EOD: A 'momentum' size turn signal, value 34% printed at the close slightly less than a full-on turn signal [range 37% - 53% optimal]. This value does fit the surrounding criteria and supports an expected short term retrace up. The indicator 'ind.vspike' did turn up +25%, a target area of +37% is expected at full retrace around 2/3/22 so progress is good. After a retrace, a further decline to a low is anticipated. Once the low completes, likely heading for the diamond upper trend line [or more].
original post-
A revised date for a retrace high is now 2/3/22 +/- 1. Presuming a 3-day [3 session] climb to reach it or thereabouts, that would fit timing-wise for a move up to begin perhaps on 1/31/22 - 2/1/22 so the lack of a break up or a low retest/new low currently would also fit that expectation. From the retrace, a likely move lower will begin possibly to a new low or higher low for the apex leg bottom of the diamond structure still printing. Structures of this type are rarely better than 67% reliable so the geometrical symmetry that is holding so far is both interesting and surprising. Morphs in any structure are always a possibility.
Indicators short-term do seem to be trying to pause/move up modestly which also would fit. A positive divergence on breadth histo bars is developing below it's zero datum which is severely attenuated on the daily and weekly level overall but may be setting up a positively diverging move since 12/1/21 on the weekly chart which likely still permits short term retraces and a new low prior to a higher move up in the market [towards a terminal top].
Note that target date highs could be filled by- index highs, inverse volatility highs or derivative instrument opposite pair highs/lows- separately or sometimes all coming together. Whichever way it divides [rotates] or not, the higher degree trend remains all-encompassing.
Current examples- SVXY high 11/4/21 holding, ES high 1/5/22 holding [both high target dates +/-1 were published in advance and were filled by various instruments]
The bots will flag here when they see a top. (1/25/20, 2/20/20)
original post-
A revised date for a retrace high is now 2/3/22 +/- 1. Presuming a 3-day [3 session] climb to reach it or thereabouts, that would fit timing-wise for a move up to begin perhaps on 1/31/22 - 2/1/22 so the lack of a break up or a low retest/new low currently would also fit that expectation. From the retrace, a likely move lower will begin possibly to a new low or higher low for the apex leg bottom of the diamond structure still printing. Structures of this type are rarely better than 67% reliable so the geometrical symmetry that is holding so far is both interesting and surprising. Morphs in any structure are always a possibility.
Indicators short-term do seem to be trying to pause/move up modestly which also would fit. A positive divergence on breadth histo bars is developing below it's zero datum which is severely attenuated on the daily and weekly level overall but may be setting up a positively diverging move since 12/1/21 on the weekly chart which likely still permits short term retraces and a new low prior to a higher move up in the market [towards a terminal top].
Note that target date highs could be filled by- index highs, inverse volatility highs or derivative instrument opposite pair highs/lows- separately or sometimes all coming together. Whichever way it divides [rotates] or not, the higher degree trend remains all-encompassing.
Current examples- SVXY high 11/4/21 holding, ES high 1/5/22 holding [both high target dates +/-1 were published in advance and were filled by various instruments]
The bots will flag here when they see a top. (1/25/20, 2/20/20)
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