EOD: no turn signal print today but SP-500 may have completed the leg up as 11/19/21 calculates to it's half span [x 2] on the leg up beginning 10/4 and also on the higher degree leg up beginning 5/12/21. A turn signal in the coming sessions will help to confirm.
11:04am EST: Looking at SP-500 cash, it has a potential near-term half-span price target for 11/19/21 [today] which may give it a higher or lower close but potentially complete it's movements as far as advancing at this smaller degree. A turn signal down confirmation follow-up will be required in the sessions going forward. In that case, volatility derivatives may still have a little room to test their highs/lows before giving up the ghost [11/22 - 11/30].
Original post-
The most important elements at the moment are the half-span near-term time targets which are 11/5 [11/5 is currently holding in cash] and 11/22 through 11/30 or the closest trading sessions. It should be noted that the breadth MACD 'signal' line on the daily [and weekly] charts has declined significantly. Likely a near-term top if it develops fully with expectation for a very long-term top in February 2022. Turn signal down watch is in effect from now until 11/30/21.
Volatility may have pegged especially in derivatives [perhaps pegged at top and bottom or very close to it] while the indexes wander around to new highs/lower highs which is also typical whenever getting close to leg completions up of any degree.
The bots will flag here when they see a top. (1/25/20, 2/20/20)
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