TVIX update

I've been holding TVIX since about $2.40 with half my trading acct but since it was going nowhere and I wanted to catch a bounce on JNUG today, I bailed out @ $2.55.  Not only is JNUG moving like crazy, TVIX's chart has morphed into a series of sideways peaks and valleys.  In other words, it is starting to smell like 4 of C.

This either breaks out the top rail decisively tomorrow or it will likely finish out the rail bumps and test $2.20.  However after that I will be a strong buyer because I believe that TVIX is putting in an expanding wedge whose next move up will be to $10.  I count that we are working on 4 of C of 4 with 5 coming at us in a big way as soon as 5 of c of 4 is done.