Signal Line-Up: Turn-Size Down Still Pending

1:46pm EST. ES 4589.75 looks like a better 0-100 fib inclusive leg target for now.

10:37am EST: A bounce is likely at 4623 zone [a fib ext]. Could be setting up to challenge the current immediate highs and drive down VXX to a lower target...or not. Also ES 4615 or 4603 zones are potential 100% downside target for our old friend, the a 0-100 inclusive fib structure that has printed a number of times recently and has been a multi-directional overlapping corrective posture mostly.

Original post:
Expectations from several criteria at various degrees together with 2 x half-span time targets strongly suggests a turn-signal down in the market is pending. Not necessarily expecting a terminal top to print just yet but the set up could morph quickly into something larger. Behavior is generally similar to a large-ish degree top building at the moment. If not a terminal top just yet, early '22 has time target options.

Going back to the previous post that referenced the disconnected behavior of UPRO - it was the strongest short-term indicator that upside was the less likely option. That set-up has not resolved yet..could take some time so watchful patience is required with a daily closing turn-signal down in the market being the decider at the moment. Watching price movements is not productive in real time for anything other than very short-term. Evening reviews are where the signals show up.

Just looking at the current price pattern, today's close could potentially print a turn signal. A change in momentum-sized signal down did print on 12/9 and that is often a 'heads-up' within a day or so of an actual valid turn down signal. Usually a review is done after all the numbers are in and confirmed during the evening.

There are some indicators still displaying a less-than-optimum position on the daily such as the summation index but it's weekly position is satisfactory for a decline to begin so that may create a delay while the daily print position looks more favorable. It isn't required since the weekly is set up but it is a possibility and might explain a delay.

The bots will flag here when they see a top. (1/25/20, 2/20/20)
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