Note: numbered wave progression count is revised. [not necessarily EW rules]
Commentary: there were sudden drops in VIX volatility [VVIX] on 7/21 and 7/22 both on the opening hourly candles.
On 7/21 VVIX dropped 7.5% and on 7/22 it dropped 21%- each recovered quickly. These can be classified as volatility 'crushes'. It was extremely unusual in VVIX so not sure what that signifies as far as moving forward. Whenever these types of behaviors have exhibited in the past particularly in VIX, some kind of short-term down/up [to new highs] action in the market often follows. There is the potential for these lows to become targets at some point on an intraday/daily basis quite likely tied to these new market highs. No top yet but stay focused- breadth may continue it's slide and diverge from new highs.
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.
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