10:36am:EST: UPRO is overlapping SVXY an appropriate amount. Readers of this blog will understand that to be a significant factor for a reliable sling shot higher to occur next. This could set up a break of the structure or more towards a terminal top that was anticipated to be a necessary pre-requisite. A turn signal up will likely support a strike much higher. Anything less could still create a move to the top of the structure with some limitations for going much higher. The alternate is a continuing decline so a turn signal up is likely very much needed now. ES is above the pre-open lows and Fridays often bring out the buyers so the close will give us a clue. Next week should create a directional move if it is pending.
A prior gap in SVXY will be a likely target [< 54.58]. So far UPRO is tracking SVXY down nicely. Breadth may be catching a break. All these developments are fitting expectations of the larger view.
Original post-
Preamble: Note that patterns of this type succeed only in 67% on average so not a high reliability structure. However, the ultimate intent looks to be reliable. A terminal top is likely setting up. A surprise slingshot to the upside perhaps breaking the structure would fit in order to quench the fear first.
Finally, there is a better perspective in focus: a whipsaw ES futures 'diamond' printing inside it's parent VIX structure no less. The strategic location fits inside the latter half of the parent structure. Watching the VIX parent structure for confirmation moving forward. Some confusion is definitely eliminated looking at this set up. [two bottom charts]
It does appear that the 1/19/22 wavelength target date did in actuality create another [lower] high. The 'event' was notably a break out of the diamond pattern. The wavelength was spot on the timing with that event.
Note that the lower VIX chart is an inverse plot of the VIX keeping it more in parallel with the market turns pictorially for an easier read going forward.
Technical note: the modest turn signal that printed on 11/10/21 [adjacent to the 11/4/21 wavelength target] appears at the potential apex of the parent structure. Similarly two weekly turn signals appeared at the commencement of the VIX structure. Monthly breadth has also noticeably declined steadily in that time frame.
Extra commentary:
Headline: Why are crypto coins falling All of A Sudden? -Amazingly they neglected to spot that the correlation with market expectations is very close. No surprise if you are looking at the right data. Note the wavelength overlay beginning in March/'18 and ending at 3/14/22. Not indicated is the lower wavelength between Dec '18 and July '21 which also correlate with declines. Apparently El Salvador is planning funding the whole country with them- not just a huge red flag but one that's visible from another galaxy. Like any speculative trade, the more that get onboard, the closer to correction [and even failure- think XIV 2018 destruction]. Not to mention tulip bulb mania/bubble/collapse.
The bots will flag here when they see a top. (1/25/20, 2/20/20)
A prior gap in SVXY will be a likely target [< 54.58]. So far UPRO is tracking SVXY down nicely. Breadth may be catching a break. All these developments are fitting expectations of the larger view.
Original post-
Preamble: Note that patterns of this type succeed only in 67% on average so not a high reliability structure. However, the ultimate intent looks to be reliable. A terminal top is likely setting up. A surprise slingshot to the upside perhaps breaking the structure would fit in order to quench the fear first.
Finally, there is a better perspective in focus: a whipsaw ES futures 'diamond' printing inside it's parent VIX structure no less. The strategic location fits inside the latter half of the parent structure. Watching the VIX parent structure for confirmation moving forward. Some confusion is definitely eliminated looking at this set up. [two bottom charts]
It does appear that the 1/19/22 wavelength target date did in actuality create another [lower] high. The 'event' was notably a break out of the diamond pattern. The wavelength was spot on the timing with that event.
Note that the lower VIX chart is an inverse plot of the VIX keeping it more in parallel with the market turns pictorially for an easier read going forward.
Technical note: the modest turn signal that printed on 11/10/21 [adjacent to the 11/4/21 wavelength target] appears at the potential apex of the parent structure. Similarly two weekly turn signals appeared at the commencement of the VIX structure. Monthly breadth has also noticeably declined steadily in that time frame.
Extra commentary:
Headline: Why are crypto coins falling All of A Sudden? -Amazingly they neglected to spot that the correlation with market expectations is very close. No surprise if you are looking at the right data. Note the wavelength overlay beginning in March/'18 and ending at 3/14/22. Not indicated is the lower wavelength between Dec '18 and July '21 which also correlate with declines. Apparently El Salvador is planning funding the whole country with them- not just a huge red flag but one that's visible from another galaxy. Like any speculative trade, the more that get onboard, the closer to correction [and even failure- think XIV 2018 destruction]. Not to mention tulip bulb mania/bubble/collapse.
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Our favorite go to site- McVerry Report
Our favorite go to site- McVerry Report
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