EOD: Looks like more diamond construction. Potentially a new leg up is starting with the break up to print part of the new leg and a pullback to the previous existing trend line to base it. Meanwhile, index turn signals are driving what appears to be a whipsaw but technically, that does not seem to qualify now. Once again, strange behavior in this structure looks very much contrived and quite deliberate. Large operatives may be unwinding a lot of inventory. Not a positive outlook.
original post-
All the whipsawing needs to go away so resuming up moves towards a retrace high at date zone 2/21 - 2/22/22 should help. Since there is little upside 'left' and several days to the possible retrace high, the market will likely be in a slow or range-bound overlapping movement until then.
Flags will be posted here when a top is detected. (1/25/20, 2/20/20)
original post-
All the whipsawing needs to go away so resuming up moves towards a retrace high at date zone 2/21 - 2/22/22 should help. Since there is little upside 'left' and several days to the possible retrace high, the market will likely be in a slow or range-bound overlapping movement until then.
Flags will be posted here when a top is detected. (1/25/20, 2/20/20)
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