ES 4460 and 4443 are lower fib extensions. The triangle has probably failed the retest and a low could print 2/11/22. A wavelength low target has come into focus for tomorrow. The diagonal 'a' through 'e' will most likely be completely retraced. The lows of the last 5 sessions may well be challenged. The low today bounced off the lower triangle projected trend line [4475 zone].
UPRO pulled back more in keeping with parity after it advanced too far more than 2.5:1 compared to SVXY yesterday. An index-based turn signal printed but no volatility turn signal - only a continuation ratio printed. The index-based turn signals are getting numerous in these whipsaws in both directions nixing the criteria normally used to create a baseline for reliable directional resolution short-term.
The whipsaws are not creating topping conditions- those need to be much quieter so the 2/14/22 target looks to be some other event for now. A second more likely target is estimating to come in around 2/21/22 zone. That could be the retrace high somewhere closer to the top of the diamond.
Flags will be posted here when a top is detected. (1/25/20, 2/20/20)
UPRO pulled back more in keeping with parity after it advanced too far more than 2.5:1 compared to SVXY yesterday. An index-based turn signal printed but no volatility turn signal - only a continuation ratio printed. The index-based turn signals are getting numerous in these whipsaws in both directions nixing the criteria normally used to create a baseline for reliable directional resolution short-term.
The whipsaws are not creating topping conditions- those need to be much quieter so the 2/14/22 target looks to be some other event for now. A second more likely target is estimating to come in around 2/21/22 zone. That could be the retrace high somewhere closer to the top of the diamond.
Flags will be posted here when a top is detected. (1/25/20, 2/20/20)
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