Market Not Going Anywhere?

"Nothing much seems to have changed referencing prices"-  has been the mantra for the last several days HOWEVER, what has changed is that weekly breadth [NYAD MACD] continues it's negative histogram print since 7/19/21 but no daily negative histogram bars- and now we have a daily negative histogram bar-the first since 7/19/21 oddly enough the daily usually leads or runs closely parallel with the weekly so this is a very unusual set up. It very much says that Friday selling accompanies the intra-week buying for at least eight continuous weeks.

Negative daily histogram bars usually give us a 'heads-up' regarding a potential mini-topping set up [along with other criteria] but here we also have EIGHT TOTAL SOLID BACK-TO-BACK WEEKLY NEGATIVE PRINTS so this could play out a little more than usual. Expecting higher highs in ES and cash to print somewhere. Obviously a new analysis will be forthcoming based on movement through the end of this week. Disregard news events, Fed speak, earnings reports etc.- the market is and has already decided what it wants to do only the 'when' has to play out now. As per normal- any deep retrace will likely start a new leg up to attack ES 4500 area.

Note:
Weekly volatility turn signal flagged on Fri. 7/9/21. Previous flag of this size was on Fri. 1//24/20 when weekly and daily volatility continued to advance through the 2020 top where it accelerated significantly from there. Currently, VIX on a daily closing basis has similarly continued to advance since Fri.7/9/21 it actually bottomed a week prior on Fri.7/2/21

What's next?: Now there is a negative daily histogram bar on the daily breadth along with a weekly volatility turn signal up, there is a watch for a daily close that flags a volatility capitulation 'low' or a daily volatility turn signal [often preceded by a capitulation low though not required for a turn signal to flag]. Either of these events will be announced here in the daily posts.

Comment: Seems to be generally less-than-positive outlook in blogs regarding the market which is why it will likely not create a serious top yet. 

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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