TVIX - has completed five wave up fractal and may start a pullback

TVIX has a clean completed impulsive structure that I label as wave A up. Now it needs an a-b-c pullback in wave B down that may retrace substantial part of the rally, like 50%, 61.8% or even 76.4% before attempting to rally again. That count implies a bullish pullback in ES and NQ.

TVIX - 15 min chart updated at 1-55 PM on 1-31-2020

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