DUG Update

Here's my first post on DUG which contains a chart model indicating a major rally would take place very soon.  To the left is a recent snapshot of  the last part of that chart.  DUG is on fire as expected. 

Deflation is running the show and it is collapsing rapidly in the background.  Nobody is telling us about it but the selling is across all industries and so it seems that Mark and Patsy are always the last to know.

But that was really not the point of posting.  I purposely picked a sector that I had not kept up with. I wrote:

"In any case, I have not followed the oil patch for years, don't consider myself any kind of expert on it, don't have any idea what current events are going on there (besides Israel striking natural gas recently and the obvious Russia-Europe heating gas connection) and my model could be all wet.  I'm simply going by some simple indicators..."

The real reason for the post was to prove that you could walk up to a chart of anything any apply the wave principle.  So the next time you see some sector expert tell you why the share price should go up or down, ignore what he has to say about the fundamentals and figure out if he knows how to read an Elliott wave count because fundamentals are not nearly as important to stock performance as their wave count.