11:50am EST: Intra-day breadth has turned down. This is only intra-day and often reverts in the afternoon so how it closes will be key.
The chart tells it best. Weekly breadth is trying to break below zero datum. If it continues- fireworks likely. If it lurches up, we go back to 'holding' or 'null' status on a top flag watch especially if a multi-week move up occurs in the NYAD MACD. Volatility turn ratio flagged a bottom on 7.9.21.
ES 4419.75 is likely an initial target. More to follow. 4417 [March '21] and 4416.25 [recent] were projected as 'first draft' target prices. First draft target prices are rarely terminal prices.
A 'pivot' top is expected prior to a final 'terminal' top. At that time [terminal 'topping'], weekly NYAD MACD should be persistently negative and have been for some weeks- particularly the 26-period signal parameter [12, 26, 9].
VXX 28.07 should be a support area if the weekly volatility turn ratio continues to hold. In this set up, if it gets taken out, it should not be by much.
Commentary: uh-oh..and this just today.."Unless the government floats new Treasury bonds, payments on Social Security, Medicare, military spending, interest on U.S. debt and other obligations just stop." ..[VectorSpike]: bad timing here.
"Lindsey Piegza, chief economist for Stifel, noted that extraordinary measures are neither new, nor are they cause for immediate alarm.
“We’ve implemented extraordinary measures before, so from a procedural standpoint this isn’t much of a concern,” she told CNBC last week.".. [VectorSpike]: phew, ok so everything's 'normal'...
[VectorSpike]: HOWEVER..what's not 'normal here is the potential imminent peak in 'cycle' timing in the overall market. Not great folks! You do not want to see possible alignments of negative 'events' arriving coincidentally with the Pi timing cycle in mind. It can skew the expected 'we can handle it' into 'woopsee' moments quite quickly. Hope we're wrong. The recent [7.9.21] weekly volatility bottom signal is likely telling us that the timing on a large Pi cycle period is now baked in or it is closely adjacent to 7.9.21 [within weeks].
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
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