[CJES] update

In my previous post on CJES my model suggested that WC 4th wave might have formed but then we got a small pullback and then a slightly higher high so that wedge now counts as W3 of A, then 4 then 5 of red a.  Then a 3 wave retracement to red b, and now I think beginning to wind up for a strong red c.  The usual candidate turning points are shown below in red.   Set stops at $13.  Why?  Because its about odds and not certainties and below $13 I don't see how we are forming re c yet.  As long as we continue to get this higher low, higher high rolling start that we see here it suggests a strong c wave.  But if my proprietary W3 indicator proves correct again, that bounce will only be wave 4 and 5 quick waves will likely form a double bottom but could go lower.  So be sure to take profits when the charts tell you to.

By the way, this is a similar chart prediction to RUSL so for those who like more action, see my recent post on that ETF.   Also note that in general I would rather go long than go short as long as the chart action makes sense.