EOD: Looks like the day ended hitting the potential 'FIB. B' 100% mark at the 4690 zone.
Our old friends - the single span fib corrective are shown [FIB.A / FIB.B]. Typically, once hit, they have retraced fully and beyond the origin which is the recent low. A bottom needs to print so the attack at the highs around 1/22 - 1/29/22 can happen [presuming those event dates continue to fit with current price moves]. Note that as long as the UPRO overlap down from the high relative to the SVXY decline remains below 50% [currently 38% overlap] the upside in this leg is likely constrained. Also, no turn signals have printed since 11/22/21 turn down. Momentum-sized signals have printed but those are insufficient for a longer-term directional change. More patience required into late January- which is not that far away.
The bots will flag here when they see a top. (1/25/20, 2/20/20)
Our old friends - the single span fib corrective are shown [FIB.A / FIB.B]. Typically, once hit, they have retraced fully and beyond the origin which is the recent low. A bottom needs to print so the attack at the highs around 1/22 - 1/29/22 can happen [presuming those event dates continue to fit with current price moves]. Note that as long as the UPRO overlap down from the high relative to the SVXY decline remains below 50% [currently 38% overlap] the upside in this leg is likely constrained. Also, no turn signals have printed since 11/22/21 turn down. Momentum-sized signals have printed but those are insufficient for a longer-term directional change. More patience required into late January- which is not that far away.
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.
No comments:
Post a Comment