3:50pm EST: Right on time SVXY gap is about to close. It could complete by 12/29/21 +/- 1 which is also an approximate 3/4 wavelength target date. In addition- the symmetry in the expanding triangle is more in keeping with a diamond or an A-B-C top at the moment [3 touches upper and lower trend lines]. In this case, the 3/4 wavelength could potentially coincide with a diamond center.
Original post-
Could be approaching or at the more immediate internal 3/4 wavelength +/- on the retrace up- a potential small wave iv pullback beginning soon. The final 100% wavelength likely takes it into January '22. There is still a gap higher on SVXY that may require some partial or fully overlapping fill. The 12/23 - 12/27 date target for a minor high may now be an adjacent target to the 3/4 span date 12/29 +/-. There could be some overlap into today at these small degree frequency estimates especially given the proximity of capitulation numbers in VXX from yesterday and the 12/23-12/27 targets.
There is also the possibility of a shift in the expanding triangle labels placing 'A' at 12/10/21 high [particularly since this is also a long-term high target date] and moving 'B' to 12/20/21 low. These changes potentially put 'C' as the current pending label which may not arrive until the full wavelength high date in January '22. From past experience, a 'C' - 'D' leg in an expanding triangle can often be a fast and deep move so we shall see as that would fit expectations so far and likely a 'C' up would nix all talk of a crash while printing new highs.
Ultimately a watch for a turn signal in either direction to print at the close [market up / down] is the better signal especially since there are so many overlapping date targets now appearing.
The bots will flag here when they see a top. (1/25/20, 2/20/20)
Original post-
Could be approaching or at the more immediate internal 3/4 wavelength +/- on the retrace up- a potential small wave iv pullback beginning soon. The final 100% wavelength likely takes it into January '22. There is still a gap higher on SVXY that may require some partial or fully overlapping fill. The 12/23 - 12/27 date target for a minor high may now be an adjacent target to the 3/4 span date 12/29 +/-. There could be some overlap into today at these small degree frequency estimates especially given the proximity of capitulation numbers in VXX from yesterday and the 12/23-12/27 targets.
There is also the possibility of a shift in the expanding triangle labels placing 'A' at 12/10/21 high [particularly since this is also a long-term high target date] and moving 'B' to 12/20/21 low. These changes potentially put 'C' as the current pending label which may not arrive until the full wavelength high date in January '22. From past experience, a 'C' - 'D' leg in an expanding triangle can often be a fast and deep move so we shall see as that would fit expectations so far and likely a 'C' up would nix all talk of a crash while printing new highs.
Ultimately a watch for a turn signal in either direction to print at the close [market up / down] is the better signal especially since there are so many overlapping date targets now appearing.
The bots will flag here when they see a top. (1/25/20, 2/20/20)
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