Updated Retrace High Event Target

EOD: An overdriven signal of +120% in VXX whilst not extreme, may indicate an overbought condition that probably will need to reverse momentum soon and get back to a full retrace print closer to 0.76 in ES futures. This also continues to support the whipsaw nature of the market currently.

The original tentative target date 2/3/22 zone is more likely a low event rather than the final retrace date high. It was actually from a low target date half-span calculation but, under special circumstances that were showing in the pattern, it had an equal chance of being a retrace high. The internal calculation is the better option which is for the 2/7 - 2/9/22 zone. If it moves from that number, a revisit to the calculation again will be necessary particularly if this whipsaw decline builds more momentum. The ultimate existing volatility instruments [lower] and higher ES targets still hold.

VXX and UVXY did hit interim fib extension targets along with ES hitting the 0.62 retrace and resistance so that is most likely the reason for the reaction- NOT ANY EARNINGS MISSES nor anything else, though that could add to the temporary selling reaction after-hours. If it's more than that, a turn signal of some sort should print and there wasn't any yesterday at the close. There was however, an overdriven or capitulation signal of -360% in volatility instrument VXX [normally +45-55% in uptrends which is a non-capitulation size] - this often creates a short-term immediate or delayed whipsaw reaction. Still have not hit the diamond upper trend line or the triangle target.

Flags will be posted here when a top is detected. (1/25/20, 2/20/20)

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