Volatility Reports 7/22/22
July 22, 2022
July 22, 2022
Volatility Reports 7/22/22
CT’s volatility model has reached another extreme with today’s open, a TE#3.
The pro-directional move based on the previous TE#2 has run its course with an S-T advance. Along with the trend change expected on or about July 21 +/- the fresh TE#3 calling the S-T trend old, feeble, and due for a change supports a reversal of the uptrend here.
Monday I pointed out that “Today’s open – from an EWT point of view has met minimum expectations for the counter-trend.” Based on the same method, the price structure has traced out a maximum move as of the recent highs.
The previous scenario of the cycle lows inverting was wrong, yet at some point for the downtrend to become pro-directional, a COT low needs to be taken out and the full cycle from high to low to be one-way traffic. Hence based on the 6 1/2 week cycle (45 days) a low is projected for late August to early September, which fits the overall scenario outlined by MarketMap™ -2022 Scenario Planner in January.
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Today traders should focus on failures to hold the uptrend. Here are the triggers based on the futures contract.
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Stop and think, avoid risk is the best risk management. There is another 20% to 25% risk from here.
Great and Many Thanks
Jack F. Cahn, CMT
Contrary Thinker 1775 E Palm Canyon Drive, Suite 110- box 176 Palm Springs, CA 92264 USA. 800-618-3820 or 25/1 Poinsettia Court Mooloolaba, QLD Australia 4557 614-2811-9889
— Contrary Thinker does not assume the risk of its client’s trading futures and offers no warranties expressed or implied. The opinions expressed here are my own and grounded in sources I believe to be reliable but not guaranteed.
— Pricing is subject to change without notice. My indicators and strategies can be withdrawn for private use without notice at any time.
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