So today it hit the 38.2 fib and then undershot it before crawling back up above and standing on it. Because of this action we can be sure that the chart knows that these fib levels exist in the collective mind of the herd. I think tomorrow AM it should kiss the 23.6% fib from below and then bounce back down to hit the 61.8% fib given this is wave 2 of a likely reversal. Filling that gap would be a serious buy signal.
Of course, if the chart smashes up through the 23.6 with gusto then the odds switch to wave 3 up being in progress but this would be such a great time to fill that gap that a significant rally as I think is coming should not want to leave it open.
We should be able to tell whether this is in wave 3 up by the energy of movement tomorrow. 3rd waves don't generally dally, especially not in something as volatile as JNUG after the big pullback has taken place.
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