2:56pm EST: Inverse volatility SVXY has a gap down from 2/21/20 which is now partially filled [approx 50%]. This was always a target zone. It remains to be seen if SVXY goes higher to overlap it in total. There may be temporary resistance in this zone. A turn signal up in volatility is still required to print with supporting criteria particularly when the summation index daily MACD rolls over. Breadth has declined on the weekly chart to an adequate extent to set up a decline at any place now. 11/5 - 11/9 is a first potential timing window for an event.
Original post-
Just hitting inside the shaded target area above the minimum [4609] which likely qualifies as a wave 3 printing now. Daily summation is still in an ascending mode which also supports the non-completion of the total structure up in the chart. Any large turn signal will need to be considered as a potential 'c' leg completion in an 'a-b-c' up structure if that does occur in the coming sessions. There is some evidence to suggest a corrective 'c' leg may become the small top rather than a wave '5' which would finish much higher up - [that may still happen].
A more local 'half-span' calculation is coming in at 11/19/21 so the November target time window may be narrowing to a focused date for a turn up in volatility. At a larger degree, there were targets 11/5 - 11/9 so these could all be potential wave top zones at various increasing degrees as far as time windows but still inside November so far. There are other dates available in a pattern projection even into early '22 that are more likely to present a terminal top. As usual, it will require valid strength turn signals to give a heads-up on directional changes that ultimately determine the pattern structure in total. Turn signals, as they occur, will be posted.
The bots will flag here when they see a top. (1/25/20, 2/20/20)
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