Looking for early morning gains tomorrow in UVXY [$COMPX]

Backlink to prior $COMPX.   Refer to the larger chart in the backlink and compare to below.  We ended up getting a significant and obvious retracement right in the middle of the expected E wave down.  This does not confirm anything but it does lend credence to my view that this whole thing could be a large HT.  I have clearly warned you where the trigger levels are at.  There is nothing much more to say.  Of course, with this setup we see in $COMPX, the odds favor a move down at the open, possibly with a gap.  If this doesn't happen, get suspicious quickly.

Watch for that breach of the lower rail by $COMPX and then break back up into the channel and hold it.  [logic was reversed here before, fixed now] Hold UVXY until $COMPX breaks back up into the channel, sell if it goes into the channel, buy UVXY again if it comes back below the channel, sell again if above. 

Simple as that provided that $COMPX it breaks down out of the channel (i.e. the area within the HT) in the first place.  The E wave of course does not have to break the channel at all so watch for 5 waves down from here as that might count as C of E even if the channel was never breached to the downside.  At the end of the day, the wave count trumps all other TA, support levels, etc.