Since it's inception, the Dow Industrials has now advanced to a point where it is showing potentially extended levels using wave assumptions and fib 'extension math'. The log scale can be difficult to implement when these sizes of move are in the rear view mirror so we gave it our closest scrutiny to keep it as close to numerically valid as possible. The alternate counts are also shown on the inset. Are we way off? Who knows.. we applied the same extension protocols we use consistently at lower degrees and we have relative success at those lower degrees. As far as we have been able to tell, the same logic scales upward as well as down in degree so we will have to watch closely, as always. If this is waves 1 through 5, we have seen wave 5's elongate on occasion but not beyond a certain point and that point could be approaching. Likely will be confusion based on the disconnects we see among the 'normal' parameters we use so staying focused on the basics will be key.
"VIX large 'C' [terminal]" comment refers to bottom mkt prices inside the formation wherever that may fall [megaphone center or wave 4 pullback if w1 thru 3 formation currently etc]. For VIX moves possibilities-.See previous post.
Also note that most often the Dow and the other indexes like SP-500 move somewhat disconnectedly and that certainly could occur in the scenario moving forward. Volatility will most likely be the common element which is why we like to devote special attention to the VIX and the volatility derivatives like VXX and SVXY.
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
Correction: In the the chart "w3 = w1 x 4.236%" should read "w3 = w1 x 423.6% [using the top extension multiplier in the 'classic' protocol group].
No comments:
Post a Comment