Today was an impressive break of the down slope channel since December. Bears finally came out and "tasted" the picnic baskets today.
The VXXB lows held nicely after the 2nd chance to buy the lows, as previously talked about, were again hit yesterday. We saw an impressive move up in VXXB today. (market dropped)
The potential for a small Bat pattern (grey) could be developing now!
The next move is the point C pivot low as shown. I don't know were it will bottom, but as drawn here, it should be a likely zone to look for. This would be 62% pullback from the high set today.
Once that pivot low is determined, we can draw the expected channel (green) correctly. At this point the green channel is simply proposed, based on other smaller details. I am looking forward to the new trend being established after this anticipated turn.
The bigger Bear Market plan as talked about in the past, may finally be starting.
This little (grey) Bat pattern is inside of the bigger (pink) CYPHER Pattern shown before. Both patterns project a huge upward move, and a huge drop in the markets in the next few months!
Patience for the long term swing traders is needed here. The market will not go down in a straight line.
But today was a good little "Bear Raid" on the market picnic baskets!
I am Long on VXXB
I am Bearish on the market!
The VXXB lows held nicely after the 2nd chance to buy the lows, as previously talked about, were again hit yesterday. We saw an impressive move up in VXXB today. (market dropped)
The potential for a small Bat pattern (grey) could be developing now!
The next move is the point C pivot low as shown. I don't know were it will bottom, but as drawn here, it should be a likely zone to look for. This would be 62% pullback from the high set today.
Once that pivot low is determined, we can draw the expected channel (green) correctly. At this point the green channel is simply proposed, based on other smaller details. I am looking forward to the new trend being established after this anticipated turn.
The bigger Bear Market plan as talked about in the past, may finally be starting.
This little (grey) Bat pattern is inside of the bigger (pink) CYPHER Pattern shown before. Both patterns project a huge upward move, and a huge drop in the markets in the next few months!
Patience for the long term swing traders is needed here. The market will not go down in a straight line.
But today was a good little "Bear Raid" on the market picnic baskets!
I am Long on VXXB
I am Bearish on the market!