JNUG crunch time

Two counts are represented below: the black count and the blue count.  The blue count says that the selloff is done and that we are putting in perhaps 5 of 1 up.  So, small pullback to ~2.20 and then 3rd wave breakout.  The blue line roughly represents this path.

The black count says that the recent low was only 3 and that we are working on 4 right now.   If this count is right it will turn down very soon into black 5 (not marked on the chart but the $1.50 low of the red line) and then absolutely skyrocket.

We have a very nice indicator for which it will be.   Crossing above the blue horizontal means that the blue path is in play because wave 4 cannot move into the region of wave 1.  You can see how the momentum has slowed way up as that line is approached as if it were a physical obstacle or something; the herd knows it is there and now must decide whether to pull back a little and leap over it or move lower one final time to complete the wave count.  Either way I expect January to be a great month for metals and miners.