Pre-Open 1/28/22: Reviewing the target date for a retrace high at 2/3/22 +/- 1 and 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 currently would fit that expectation. Currently could be waiting on a 4 - 5 day half-span sub-wave to trough and pass zero and head to a peak which appears to approximately fit the 4 daily candles printing at the lows. Maybe.
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].
EOD: The indicator 'ind.vspike' has turned up modestly so that is a good sign short-term and favors the retrace scenario. In that case, a retrace rise-and-drop is increasingly likely. If a retrace is successful, a calculated target date of 2/3/22 for a retrace high is a potential and does fit with the existing date targets +/- 1. Target dates will be updated if the elapsed time/price set up appears to conflict.
3:33pm EST: A continuing retrace up is looking to be more on the cards. A preliminary calculation at target dates for a final bottom in the declining leg from the Apex of the diamond is indicating more time to go overall. A retrace up and drop back down has room to fit into that layout time-wise. Whether a new Apex leg low prints later or a higher low are both possible given current data.
12:37pm EST: Special indicator 'ind.vspike' is having difficulties turning up. See updated chart at bottom. If unsuccessful then likely lower lows now or continue to retest the lows. High dates are not valid to actually go higher in the range very far until this indicator reverses.
11:10am EST: Still early in the day but a promising start with indicators inverse VIX and 'ind.vspike' both turning up. The close will be needed to confirm the reversal being on tap for today. Breadth began mildly oversold then overbought but has since subdued to a manageable 'elevated' so far.
Original post:
Diamond structure continues to look very much the potential so far [it is past half-way in unless a new longer Apex leg develops]. ES target potential goes up to 4710.75 using the applied [cyan] arrow fib extensions. If ES clears 4453.00, it's likely on it's way.
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 calculated target dates +/-1 were published in advance but not instrument specific]
The bots will flag here when they see a top. (1/25/20, 2/20/20)
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].
EOD: The indicator 'ind.vspike' has turned up modestly so that is a good sign short-term and favors the retrace scenario. In that case, a retrace rise-and-drop is increasingly likely. If a retrace is successful, a calculated target date of 2/3/22 for a retrace high is a potential and does fit with the existing date targets +/- 1. Target dates will be updated if the elapsed time/price set up appears to conflict.
3:33pm EST: A continuing retrace up is looking to be more on the cards. A preliminary calculation at target dates for a final bottom in the declining leg from the Apex of the diamond is indicating more time to go overall. A retrace up and drop back down has room to fit into that layout time-wise. Whether a new Apex leg low prints later or a higher low are both possible given current data.
12:37pm EST: Special indicator 'ind.vspike' is having difficulties turning up. See updated chart at bottom. If unsuccessful then likely lower lows now or continue to retest the lows. High dates are not valid to actually go higher in the range very far until this indicator reverses.
11:10am EST: Still early in the day but a promising start with indicators inverse VIX and 'ind.vspike' both turning up. The close will be needed to confirm the reversal being on tap for today. Breadth began mildly oversold then overbought but has since subdued to a manageable 'elevated' so far.
Original post:
Diamond structure continues to look very much the potential so far [it is past half-way in unless a new longer Apex leg develops]. ES target potential goes up to 4710.75 using the applied [cyan] arrow fib extensions. If ES clears 4453.00, it's likely on it's way.
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 calculated target dates +/-1 were published in advance but not instrument specific]
The bots will flag here when they see a top. (1/25/20, 2/20/20)
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