As per usual- apologies to EW technicians. Our use of labels is purely centered around fib extension progressions because it seems to work and removes potential ambiguous EW analysis. Most of the blog sphere seems to be chock-full with 'observations' of various movements. It can be difficult to see through the veil. A short term top is expected probably when VXX hits a new low and the market hits either a new high [wave 'v' ?] or a lower high. Expectation is for the decline [if and when that does occur] to take out the low from the one that began with a high around 5/10/21. Still not quite there but vector progress seems to be on target so far. Still no large degree top showing yet on this leg.
Weekly breadth MACD on NYSE (NYAD) trying to bounce from a low last week of -32 on the actual plot line. The red signal line is still positive and may need to get closer to zero on the weekly for the ST decline mentioned above to commence.
See Critical Long-TermUPDATED 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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