3:40pm EST: VXX hit a 'classic' extension lower at 32.80/[32.51-next] zone fib calculation so let's see how the next session[s] behave. Breadth is looking less than stellar today. Going forward, if VIX takes out the closing low from 4/16/21 [16.25] then we are back to a reset as far as any immediate pull back outlook.
2:10pm EST: If wave 'iv' has completed where plotted, wave 'v' has only progressed three waves up. In this market particularly, fifth waves have been erratic about half the time not necessarily fully completing five sub-wave moves. Sometimes they have retraced down almost taking out the first wave of leg ['i'] before starting a new thrust to create a new leg up that does achieve the originally intended target zone from the prior failed leg. Still no terminal top in this market. VXX did hit a lower target at 33.07 zone.
Original post:
Wave 'iv' took almost two calendar weeks if it has completed. Not exactly impressive but market has more upside to run.
Commentary: Blogger's and even analyst's 'opinions' are exactly that unless accompanied by demonstrable data. Even at VectorSpike. The ONLY thing that matters is what exactly is happening with data patterns at large and small degrees. It can be quite complex and can take a huge amount of disciplined 'work' to even come close to accurate signal deciphering otherwise everybody would be doing it and profiting and no matter what the press would have you believe- it isn't get rich quick even though some do but check back with them in 10 years to see if they use a process or if it was coincident timing. Even winners in Vegas often end up giving their winnings back to the house. Some find another way when they need real results even if it is more work and less exciting.
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