2:11pm EST: Looks like next stop in ES is 4469.25 zone or thereabouts.
11:39am EST: CHART UPDATE- THE ORIGINAL VECTOR PROJECTION AT THE WEEKLY TURN SIGNAL LOOKS TO BE IN PLAY.
10:06am EST:Intra-day started out with a promising attempt to print a turn ratio from the VXX low however, rarely do morning propagations survive through to the close so we will have to see if this one has any staying power. One good thing is that this is the closest we have come to a turn signal even at the intra-day level so perhaps one will be forthcoming soon. It will need to scale up as it is currently only marginal so perhaps a better prospect will appear in the coming sessions if not today.
After reviewing the VXX action, it looks like a 'clean' vector hit at the close from a vector that commenced on 8/3/21. There could be more but not much more if a daily turn signal in volatility flags somewhere near here. If the VIX low is pierced from 7/9/21, the projection will likely will require a fresh analysis otherwise the turn signal 'watch' remains active. Note: that the VIX gap has not filled yet [14.0 zone] so that would probably get us a lower VXX print somewhere.
Typical behavior would be a VXX bottom on [or in close proximity to] a week-ending session followed by a turn signal either that same day or a few days later. ES could print higher or lower in this window but the turn signal is likely the key to an impending decline. However- too much negativity in the market blogs could derail or delay any potential terminal action but likely will not reverse what the market intends either way.
Ref- [both weekly 200ma charts are relatively unchanged]:
Precipitous drop setting up a bear flag?
ARMS index set up
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
No comments:
Post a Comment