See post for 6/4/2021
Unless prices break up with some force, a pivot decline is looking more likely. After that probably a terminal top at a new ath. June time frame was a first draft time window from several months ago. Anything less than a pivot could still occur. VXX recent low looks like a stable target hit which lends credence to a decline/correction to occur soon. Still no terminal top.
50ma summation index rolling over is now at -2.1% from it's peak [intra-week reading] this week and has been declining since 5/10/2021. Historically this can lead to a short term decline followed quickly by a terminal ath. Breadth is well positive but is getting extended and could reverse quickly if bidding dries up similar to late 2007 topping action. The closing this week could give us a set up signal as the week ending has been the most likely time window to triggering the next up or down price movement.
A long term potential first draft terminal target for VXX [from 3/23/2020 market bottom-VXX high] is now in sight at 29.95 price zone so watching any action in volatility that targets that area.
Update: Current total drop in VXX = -89%, VIX = -82%: VXX/VIX = 108%
Compare from mkt bottom on 12/26/2018 to top on 2/21/2020: VXX = -74%, VIX = -70%: VXX/VIX = 106%
Historically VXX/VIX > 100% is a 'heads up' moment.
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)
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