UVXY mid day update

The expected wave 2 DJIA rally/UVXY retracment is happening and given how the retracement has played out so far I would expect it to accelerate into the close as the C wave expresses itself.  But if this fills the gap at the close then you want to go long into that move because that would mean wave 3 up begins tomorrow.  It is also possible that this continues fooling around for another day and does not express the C wave fully until tomorrow.  Just keep an eye on the waves to know when to jump back into UVXY (assuming you sold it when the model indicated you should...).

Bottom line: do not be afraid of an end of day DJIA rally/UVXY sell off because it would be the expected setup for the next big DJIA wave down.