10:47am EST: Today's ratio so far shows a supporting momentum for the market engaging in a daily decline overall but not a technical turn signal just yet.
VIX has a gap below it that probably needs to fill and DAILY VXX MACD is required to cross-over upwards above the signal line. That will create conditions to facilitate a turn signal if that's what we are seeing developing. A wave '[V]' may terminate in that proximity either with, ahead or behind VXX turning up.
Original post-
Potential turn signal looks to be under construction as of yesterday's closing ratios. If so, likely not at a terminal top just yet but a near-term decline that could get hairy.
Also note this is week 4 for the NYAD MACD WEEKLY signal to occupy a below zero position which puts the market in the running for a correction at some degree pending. The average time spent prior to a decline is 7 weeks and the smallest is 5 weeks so it is closing in on a time window historically. The next decline is likely to be a 'pivot' which is still not a terminal top- historically that is what the market often does.
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The bots will flag here when they see a top. (1/25/20, 2/20/20, 4/9/20)
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