EOD: Vix gap lower is closing as noted below = positive leaning. Lots of whipsaw action so it needs to steady down. Lower targets in volatility derivative VXX likely. Indexes do not necessarily need to go that much higher for VXX to hit it's next target lower. Just waiting on a turn signal at any close to give us the 'heads-up' on ultimate direction. UPRO never has resolved it's track lower in accordance with a 'normal' leg up move so this is now a game of chicken but better not play games right now. Wave length time targets since 11/22/21 are still holding. A change in momentum [market up] printed at the close [not surprisingly] but it wasn't a valid turn signal as would normally appear in a longer-term leg up. Options remain open. Once everyone is back to feeling jolly after the recent 'scares' it might pull the rug.
10:50am EST: Treading water- closing values will hopefully give a better clue. Negativity from recent down market action may need to burn off using time so could stretch out to a couple of weeks even if that seems like quite the delay, the next wave length [span-time] data point could push it out that far. Intra-day signals show support for more upside but it is still early in the session.
Original post-
A micro timing window on the retrace up has an option for today+/- to print a turn signal down. The next data point is in two weeks so anywhere inside these two is also valid. A break-down here does 'look' appropriate but looks do not count. Signals do. If prices climb back inside the triangle, the timing option extends. Some negativity in blog-sphere may be a contrarian positive. Also- the summation index [daily] does not show more than a small bump of this retrace up on the stochastic. The weekly is positioned correctly for a decline so options are still open, all things considered. A signal will be the decider most likely. VIX does have a gap lower down = positive leaning.
Note the 'inclusive' fibonacci horizontal white lines marking 0-100 alignments of the recent decline. Typically, this could retrace back up close to the 0% origin in a corrective continuation or it could go beyond and create a new leg higher. Pre-open could be building a bull flag right at the cash triangle lower trend line with a target somewhere inside the triangle or higher.. 'Interesting' was the description around last week's posts specifically for 12/13-14 this week and it is certainly living up to it.
Commentary: cannot resist it - 'Santa' may be on his way for all you romantics out there. Why not- some good ol' fashion seasonal pleasantries are always welcome.
The bots will flag here when they see a top. (1/25/20, 2/20/20)
10:50am EST: Treading water- closing values will hopefully give a better clue. Negativity from recent down market action may need to burn off using time so could stretch out to a couple of weeks even if that seems like quite the delay, the next wave length [span-time] data point could push it out that far. Intra-day signals show support for more upside but it is still early in the session.
Original post-
A micro timing window on the retrace up has an option for today+/- to print a turn signal down. The next data point is in two weeks so anywhere inside these two is also valid. A break-down here does 'look' appropriate but looks do not count. Signals do. If prices climb back inside the triangle, the timing option extends. Some negativity in blog-sphere may be a contrarian positive. Also- the summation index [daily] does not show more than a small bump of this retrace up on the stochastic. The weekly is positioned correctly for a decline so options are still open, all things considered. A signal will be the decider most likely. VIX does have a gap lower down = positive leaning.
Note the 'inclusive' fibonacci horizontal white lines marking 0-100 alignments of the recent decline. Typically, this could retrace back up close to the 0% origin in a corrective continuation or it could go beyond and create a new leg higher. Pre-open could be building a bull flag right at the cash triangle lower trend line with a target somewhere inside the triangle or higher.. 'Interesting' was the description around last week's posts specifically for 12/13-14 this week and it is certainly living up to it.
Commentary: cannot resist it - 'Santa' may be on his way for all you romantics out there. Why not- some good ol' fashion seasonal pleasantries are always welcome.
The bots will flag here when they see a top. (1/25/20, 2/20/20)
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