EOD: Looks like the tentative turn signal called at the close on 11/22 was a medium confidence signal at that location [high in SP-500 was also called]. Strangely enough 11/25 came in as a target date but was discounted because it was a holiday so no cash trading- apparently, these half-span dates cannot be defeated if futures are printing when calculated correctly as demonstrated currently.
10:24am EST: Breadth is way oversold so likely a retrace up to a turn signal possibly on 11/30 target. If this continues for much longer without resolution- a larger degree top may be forming, Weekly summation index is beginning to print a roll-over pattern. That was not anticipated and is concerning.
Looks very much like a symmetrical expanding triangle with target dates defining price boundary enclosing points in the structure so far. Leg C-D is typically violent in these structures which is how it's printing presently. Optionally and slightly more likely is that this is a diamond top/head-and-shoulders with the central leg/neck line printing now OR a simple A-B-C top.
Waiting for a turn signal confirmation. Next target- 11/30. Rarely, a sustained decline can commence in the absence of a signal. Note that target dates are continuing to satisfy event expectations therefore current confidence is above 67% and increasing. Oh- apparently today's decline is tied to the new Covid variant not the fact that a small-ish top has been under construction since 11/5. These types of correlations are no surprise, cycles in everything often move in consort but popular press is quick to correlate a causation that is not the whole story at all.
A retrace into 11/30 +/- is likely unless a decline has commenced minus a high confidence turn signal. One could materialize at the close if a decent retrace completes today.
The bots will flag here when they see a top. (1/25/20, 2/20/20)
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