EOD: Nominal/marginal continuation [mkt up] signal printed at the close. The volatility instrument components were strongest but values for the index signals were less convincing so upside has limits. This fits with a nearing high target date referred to below.
3:29pm EST: A local session span frequency is targeting a high date for tomorrow 2/17/22H +/-1 [1/3/22H>1/26/22L<2/17/22LH]. This could stretch to Fri 2/18/22. A turn signal [mkt up/down] watch will be in effect. Odds favor a turn signal [mkt down] from high date frequency targets that confirm with new highs on or near the target date.
Update 2/16/22: The small continuation down attempt signal that printed on 2/14/22 could be a heads-up which has an equal chance of setting up a decline to a cash bottom in the SP-500 diamond print. That signal could begin to set up from a market high today, 2/16/22 [pre-open?] followed by a small decline / retrace up - then the signal [mkt down]- or yesterday's cash high was it and a signal [mkt down] prints at today's close or later. The timing 'looks' right as far as maintaining diamond structure symmetry.
The recent thought was that the symmetry cannot continue to print so precisely and yet the market seems to be inclined towards that objective so far. Volatility over-reacted yesterday so a little retrace up in the market is on tap.
Less favorable odds:
Potential pullback [mkt lower] could set up a turn signal [mkt up] most likely from the gap close in the cash market. UPRO price 59.38 / 59.13 are fib extensions that would close it's gap.
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.
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