Sep 21, 2021 The VIX broke its .500 by 2 Ticks to pull back towards its 22.25 Support Level. VXN, no different, the pullback towards its Support from the Measure move of the GAP to the Highs. The indices will complete their retracement measured moves ahead of the FOMC tomorrow, entirely normal after yesterday's extremely large Volume Sells. We anticipated a Retracement back up ahead of the FOMC. It is normal and useful as the SELL Fills in the DOM await. Price will move to its 200SMA after this retracement is complete. The Die as they say is cast for Lower Prices, as we have indicated the 200SMAs will not hold but create a failure towards the 400SMAs. _________________________________________________________________________ NQ - Daily Range 14807 - 15708 The retracement Levels for SELL Fills: 15258 15364 Gap Fill Open The Objective is 12754 _________________________________________________________________________ ES - Daily Range 4294 - 1550 The retracement Levels for SELL Fills: 4421 4452 Gap Fill Open The Objective is 3982 _________________________________________________________________________ YM - Daily Range 33478 - 35548 The retracement Levels for SELL Fills: 34512 34753 Gap Fill Open The Objective is 28.200 to 31,000 ________________________________________________________________________ Summary Market Structure observations proved to be correct. The Trade Plan was executed and closed successfully. The Markets are weakening and moving to their 200SMAs, we do not anticipate this the level will hold but move lower towards the 400SMAs. Divergences that had been building for several months came to pass. 3x and 4x divergences take time to resolve, we are nowhere near this in time. As this unfolds it will fool a great many who have been trained to BTD. Inexperienced Traders are now touting Dow 37.000. Not going to happen, Price has a great deal of work in a Southerly Range. The Flash Crash began and ended yesterday. It will be back in force again shortly. Creating Lower Lows. We will see where the Backtest attempts to gain its FILL. The trendline or the Gaps above. There is no Gap and Trap, our indicators remain Bearish. Pirce has failed the Momentum Line. The 100 SMAs were tested, for now, the 50SMAs could be backtested with an overthrow. ROC's should return to their respective Centerlines @ 0. Micro Counts completed, a reversal is to be anticipated. _______________________________________________________________________________ Any retracement higher will be met with further and intensifying SELLS. "Buy the Dip" will be crushed again, after this retracement. The VIX remains the Guide. Trade Safe and Prosperous. - HK
Sep 22, 2021 Comment
Pulling back to FILL @ 22.22