Secondary frequency calc. 10/27/21 -- 12/1/21 -- 1/4/22 [36 calendar days span between each date]. Using +/- 1 day- another small degree frequency calculation is indicating this week's time window for a minor high. Pre-open VXX is hitting a classic fib 2.6 vector extension from 12/21/21 @ 17.66, next target VXX 16.30.
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 next event could simply be a needed pullback on UPRO to reset the market to strike higher later on [a lower OR higher all-time-high]. The wavelength from several points including 2009 lows is pushing the time limits very hard now.
Breadth and summation numbers do not yet align with an imminent terminal position so some sort of resolution is required which may take more time to increase total outlook clarity. As always- watching for a valid criteria turn signal to print from data collected after the close.
Chart is outlook re-print from 12/31/21:
Our favorite go to site- McVerry Report
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