EOD: Still no top. Breadth (daily NYAD) was down 170% while the MACD value is still above zero but the drop today was notable while closing cash on SP-500 was up a little which is starting to create a negative divergence on the market. If there is any pullback, it will probably be small potentially printing a wave 'iv'- if and when that occurs- there seems to be no hesitation in just buying any move no matter if it's lower or higher- just keep buying in relentlessly. Reckless trading is the normal until it isn't. Expecting to watch for at least a few more weeks for this leg to show it's intentions.
Original post-
Chart one is current price pattern.
Chart two demonstrates possible 7th wave concluding in this up leg. (note that in a general inverse volatility bullish market, the plots would be inverted with SVXY plotting above the UPRO:SVXY print). Having stated that- UPRO and SVXY may have caught up with each other as far as arriving at the same 'relative' optimism and may well travel upwards together to a conclusion. Tops almost always come when all market participants arrive on the same side of exuberance!
Chart three shows alternate long term potential projection.
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The bots will flag here when they see a top. (1/25/20, 2/20/20, 4/9/20)
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