EOD: UVXY printed a lower target on a 3-tier fib decline [4.44=fib 0, 4.27=fib -0.38 and 4.01=fib -1.0] which was a running adjustment to the previous target. The low printed at 4.02 so we will see next week if that is all she wrote on UVXY. It could stay on that price while ES prints higher which would be typical behavior. ES has a target for wave [iii] at 4234.75 zone. VXX had a similar 3-tier decline in fib targets hitting it's low at the close [36.58].
Not the top but could be the pivot kick-off zone. This was the original target zone on 4/29 [purple construction line] when the projected wave 'V' failed and retested the lows at 'D'. Looks like finally getting there. Negative breadth divergence is developing on the weekly NYAD MACD now in it's 5th week from it's high but still is well above the zero datum so any decline could well be a pivot structure part one. UVXY is threatening to hit the next target low at 4.09 zone so the set up looks like a possibility for a pivot to occur soon.
See Critical Long-Term UPDATED 4/12/2021 Review Here
The bots will flag here when they see a top. (1/25/20, 2/20/20, 4/9/20)
This Information Is For Entertainment Purposes Only. Financial Loss Can Occur From Investing.
Our favorite go to site- McVerry Report
No comments:
Post a Comment