USLV chart is deep into a C wave.

The peak for USLV was Late Feb 2012 @ $651.30.  Since then we have as about a clear 3 wave decline as I think I will ever see.  Note how the count works well while assigning a 3rd wave to the falling wedge between 2013 and 2014.  From there it popped into a 4th and now we are near the end of the fifth of 5 of C.  Yes, this could just be 1 of 5 of blue 5.  Nobody knows how that will turn out. We will have to see how the coming bounce happens.  But the capitulation levels of volume we have seen of late suggest that we are very near the bottom.