EOD: A fibonacci full span has alignments printing at 0.0 / 0.38/ 0.76/ 1.0 [1.0=4178.50 is pending]. Count #9 of 9 looks to be printing after hours which technically makes it count #10 [#9 +1]. The fib span laid out has failed so the next plot lower is ES 4112 zone which is a vector extension wave 3 from the leg that commenced on 2/22.
12:00 PM EST: Mid-session aligns with count #9 of 9 so there could be a reaction.
Upper Live chart: [ES] Option for one more down move to finish is 50%. No turn signal [market up] has printed yet. Maybe today. However, even a correct strength index/volatility turn signal is not yet sustainable for very long as the v.spike indicator is very low and not favorable for upside to continue for longer than short term at these levels. Also- the larger down leg frequency does not appear to have concluded [start 1/3/22 or sooner] at it's wavelength target date or decline count.
This could be in a stealth 3-leg decline with part [ii of iii] of the second leg about to print and the final third leg [parts] yet to come. Perhaps then a trip higher into Sept '22. It would certainly fit with the market situation at a larger degree akin to a major topping process. Mood and put-call suggests protracted correction prior to a major terminal top which could be a long way off but more relative short-term declines to come before a turn-around upwards of any real strength. Likely many big participants are unwinding overdue long term positions. 3/27/22 has been a long term target date zone for a while now and alignments could be heading towards fulfilling that event date- either a high/accelerated decline/low. Better focus will come as that date gets closer.
Bottom Chart: These target calculations will continue to be reviewed as advancing patterns develop. There is also a long term target into June '23 but it is unclear what that event might be [terminal/other high, or a low]. Several experienced analysts are projecting this year for the terminal top [including here] - contrarian thinking often wipes the table clean of all these ideas first so it may need to wait for 'everyone' to give up on that idea first whether Sep '22 or June '23.
"Excessive fear and paranoia tend to drive out useful judgement."
12:00 PM EST: Mid-session aligns with count #9 of 9 so there could be a reaction.
Upper Live chart: [ES] Option for one more down move to finish is 50%. No turn signal [market up] has printed yet. Maybe today. However, even a correct strength index/volatility turn signal is not yet sustainable for very long as the v.spike indicator is very low and not favorable for upside to continue for longer than short term at these levels. Also- the larger down leg frequency does not appear to have concluded [start 1/3/22 or sooner] at it's wavelength target date or decline count.
This could be in a stealth 3-leg decline with part [ii of iii] of the second leg about to print and the final third leg [parts] yet to come. Perhaps then a trip higher into Sept '22. It would certainly fit with the market situation at a larger degree akin to a major topping process. Mood and put-call suggests protracted correction prior to a major terminal top which could be a long way off but more relative short-term declines to come before a turn-around upwards of any real strength. Likely many big participants are unwinding overdue long term positions. 3/27/22 has been a long term target date zone for a while now and alignments could be heading towards fulfilling that event date- either a high/accelerated decline/low. Better focus will come as that date gets closer.
Bottom Chart: These target calculations will continue to be reviewed as advancing patterns develop. There is also a long term target into June '23 but it is unclear what that event might be [terminal/other high, or a low]. Several experienced analysts are projecting this year for the terminal top [including here] - contrarian thinking often wipes the table clean of all these ideas first so it may need to wait for 'everyone' to give up on that idea first whether Sep '22 or June '23.
"Excessive fear and paranoia tend to drive out useful judgement."
Flags will be posted here when a top is detected. (1/25/20, 2/20/20)
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