Wire to Wire Melt-ups is the very definition of an Aggressive Extension.
The price moved accordingly within NQ Extension to perfectly hit its first area of Resistance the Heavy Depth of Market Distribution for the next Wave down within the downturn off the High @ 15,708.50.
We are now roughly 650 Ticks from the September Highs. or conversely as little more than halfway off the Lows @ 143567.25.
The same 2 Draw are shown in the FIB Ladders
1. Ledge @ 15399 to 14367
2. ATH @ 15708 to 14367
The symmetry illustrates how time functions as Intersects are important, they are Pivots for Price in Time when defined correctly, it requires patience to hunt them down if you are relatively inexperienced. e
Eventually, you will find them with ease.
Within the Symmetry, we see the "Box" - although it will appear tilted, it is our larger retracement Range IF and Only IF this level of resistance is broken and continues to Hold.
We have Gaps above and Gaps below, by design... it creates uncertainty, again, by design.
We also have, more importantly - the Retracement we were looking for Price attempting to Fill the Gap above. We do not know if this will be a Gap & GO or a Gap & Trap.
We see on the smaller Timeframes October 21 as an important Time... On the larger Daily Timeframe - we see November as important.
Our Box has a boundary for Time and within it there are a number of dates now which began popping up last week to assert themselves on Shorter Durations.
The VIX Crush is underway as the VVIX is being pushed back into our Corner, albeit slowly... ever so slowly.
The VXN has 18.60 as the next lower Objective.
Price is either going to Over-Throw or consolidate.
Typically extensions this Aggressive either continue of Fail in rather Epic proportions.
Friday's are always fun, they tend to relieve the most capital from both sides during Expiry... Put holders have been smoked, the large number of Call buyers wants their Payday.
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