"Dow Jones Futures: ... Bring On The 2022 Market Rally"
Sentiments sometimes are telling. ES is still in the zone on the chart from 12/29/21. Let's stay focused on reality. Better to check exuberant emotions at the door until proven otherwise. A minor high target is on the cards for the coming week. A decline might be expected given the set-up currently subsequent to that. Latest outside estimates on frequency takes us out to 3/27/2022 for a potential much higher degree decline to commence. Prior to that occurrence there will likely be some breadth attrition which usually entails declines of various types inside the strikes towards the terminal high later on.
A valid turn signal [market down] attached to supporting criteria printing at the close is now required to indicate a directional change. 1/5/22 +/- 1 is the estimated target date for a minor high. Possibly a decline from there that includes a pullback for UPRO [relative to SVXY] that has so far failed to hit a low often needed prior to a new strike higher in the market. This observation was pointed out in an earlier post from12/7/21.
As far as SVXY is concerned, it looks like this volatility derivative is in a retrace up after an initial decline from 11/4/21 which likely could mean more downside to come. The general market has diverged higher which is not unusual even when rising volatility is waiting to pull it back some.
Sentiments sometimes are telling. ES is still in the zone on the chart from 12/29/21. Let's stay focused on reality. Better to check exuberant emotions at the door until proven otherwise. A minor high target is on the cards for the coming week. A decline might be expected given the set-up currently subsequent to that. Latest outside estimates on frequency takes us out to 3/27/2022 for a potential much higher degree decline to commence. Prior to that occurrence there will likely be some breadth attrition which usually entails declines of various types inside the strikes towards the terminal high later on.
A valid turn signal [market down] attached to supporting criteria printing at the close is now required to indicate a directional change. 1/5/22 +/- 1 is the estimated target date for a minor high. Possibly a decline from there that includes a pullback for UPRO [relative to SVXY] that has so far failed to hit a low often needed prior to a new strike higher in the market. This observation was pointed out in an earlier post from12/7/21.
As far as SVXY is concerned, it looks like this volatility derivative is in a retrace up after an initial decline from 11/4/21 which likely could mean more downside to come. The general market has diverged higher which is not unusual even when rising volatility is waiting to pull it back some.
This Information Is For Entertainment Purposes Only. Financial Loss Can Occur From Investing.
Our favorite go to site- McVerry Report
Our favorite go to site- McVerry Report
No comments:
Post a Comment