In the video I am showing how you can simply track the classic five wave fractal proposed by Harmonic Elliot Wave theory. To nail a top in the market it may be easier to nail a bottom in TVIX, which is TVIX. VelocityShares’ TVIX Exchange Trade Note is a 2X leveraged fund that tracks short term volatility. It is closely tied to twice the daily return of the S&P VIX Short-Term Futures.
In many cases TVIX acts in inverse fashion to what SPY does. When we get a bottoming structure of five completed waves down in TVIX it is a great sign that SPY and ES may reverse its course from up to down.
I show how you can zoom in from an hourly chart to 15 min and then 5 min charts to simply count completion of each impulsive wave down in TVIX switching to a lower scale or degree. Because completion of the wave A of 5 down that happened last week requires full completion all the five smaller waves (i), (ii), (iii), (iv) and (v) that combine together that move down in volatility in the wave A of 5 that started on 8 March 2019.
Moreover, to be even more precise you may zoom-in into even more details trying to count five final micro waves i, ii, iii, iv and v that together combine wave (c) of ( v ) of A of 5. Start to learn this simple and efficient method today!