VXXB - Will today be a turning point for the market? Shark?
Here's an updated chart of VXXB. As you know , this typically is a contrarian indicator to the market.
As the market has been rising since late December, this VXXB has been going down.
Now we may be at a point where the VXXB is bottoming. We would like to see a hammer or a doji candlestick today to help mark the turn.
Let's see if we get this today or not.
Please note the Daily reaction line shown in red. This is an important point to watch also.
The upward sloping green channel with the Buy Line should give us an expectation for a Cypher (Shark) pattern using Harmonics.
If this happens then we could be in for a nasty surprise in the markets during late March -April!
As the market has been rising since late December, this VXXB has been going down.
Now we may be at a point where the VXXB is bottoming. We would like to see a hammer or a doji candlestick today to help mark the turn.
Let's see if we get this today or not.
Please note the Daily reaction line shown in red. This is an important point to watch also.
The upward sloping green channel with the Buy Line should give us an expectation for a Cypher (Shark) pattern using Harmonics.
If this happens then we could be in for a nasty surprise in the markets during late March -April!