JNUG model

I nailed the JUG turn in this post.  That low could be a 4th wave, it could be a B wave.  Whether or not the top rail hold will tell us which it actually was.

The JNUG 10 minute chart model below has been updated relative to this one.  I'm still thinking we have a 4th wave triangle going on here (at least until the upper rail fails to hold...) but I pulled it in by 1 wave.  What I mapped as the B wave before is now counting like the D.  It will be absolutely key to see whether or not that top rail holds.  If it does, strong sell of JNUG and in fact flip over to JDST for a ride back to the lower rail (i.e. the red path which represents a short stroke 5th that just files the e wave gap) or worse (the blue path which is a full motive 5th).  Triangles are wonderful landmarks because they give absolutely clear decision points.  Again, this might not turn out to be a triangle.  The top rail might break out instead of containing the chart at red E / blue 4.  But if it does we will know within a few pennies.  The smart will exit JNUG when that line is kissed and not get back in until it is decisively broken.  The hard core trader will exit JNUG at that point and then go into JDST for the potential short.  But be sure to use tight stops right above the rail for that play.