A turn signal up has printed just inside minimum requirements so a price follow-through will need to confirm. Next target date is in the 2/14 - 2/15/22 zone, perhaps for a small pullback with a retrace high later.
Commentary- An analysis looking at the mid-to-extreme January 'sell-off' [$USHL] is presuming it could take a very long time to unwind and, while that is a realistic possibility given the size of the sell-off, a deeper look may offer another prognosis. Looking at the 50ma vs 200ma on the weekly plot of $USHL demonstrates the option to go deeper before hitting the extremes in the 50ma. It is currently just crossing below the 200ma*. This could be particularly relevant if we are approaching a multi-decade degree level for a pending market corrective.
*notably the 50ma peaked prior to the cross-over down in early Nov '21 and 11/4/21 specifically was a projected date target which was filled by SVXY and is still holding.
Flags will be posted here when a top is detected. (1/25/20, 2/20/20)
Commentary- An analysis looking at the mid-to-extreme January 'sell-off' [$USHL] is presuming it could take a very long time to unwind and, while that is a realistic possibility given the size of the sell-off, a deeper look may offer another prognosis. Looking at the 50ma vs 200ma on the weekly plot of $USHL demonstrates the option to go deeper before hitting the extremes in the 50ma. It is currently just crossing below the 200ma*. This could be particularly relevant if we are approaching a multi-decade degree level for a pending market corrective.
*notably the 50ma peaked prior to the cross-over down in early Nov '21 and 11/4/21 specifically was a projected date target which was filled by SVXY and is still holding.
Flags will be posted here when a top is detected. (1/25/20, 2/20/20)
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