JNUG update

JNUG broke out exactly where the model I provided in my previous post indicated that it might.  The breakout was a buy signal.  At this point either 5 of 1 is complete or 3 of 5 of 1 is complete.  Either way I model a significant risk of a 20+% pullback over the next 2-4 trading sessions.

Bold traders will consider flipping into JDST if they see real weakness here and then just using a higher high on JNUG as the "flip back" signal.  I suspect this could be wave A of C.  But it could also be 1 of A which would mean plenty of room to rally after a pullback.