[UVXY] update - the turn upwards likely begins today.

In the backlinks I have a series of models that have been apparently correct while actually wrong.  I have been modeling that this was a 4th wave HT needing one more capitulation wave down (red wave) as the DJIA moved back up to form a DDT / Owl ears.

But today the futures are down 155 as of this post and thus a lower low.  The next wave down is thus confirmed on the DJIA.  At the same time, UVXY is up 6% in the pre trade (blue wave) thus blowing the 4th wave. HT model out of the water.  All I can say is that this breakout marks a very significant bottom and that the DJIA has to at least fall to the level of the prior 4th and probably much, much further.  Buy the dip, don't chase peaks.

By the way, if this is happening to UVXY now then it will happen to FAZ in the near future.  In our Ponzi markets, banks are strong because they control access to the money. That has been the traditional way of thinking.  But going forward, fake money is going to be the root cause of everyone's problems and while normal businesses are simply caught up in the fake money mess (and thus affected) banks ARE the fake money mess and thus will be smashed big time.  FAZ is going to skyrocket as a result.  Faz seems sleepy now but wait until the words "liquidity crisis" again are seen in the press and then FAZ will begin to move with energy that few expect is possible.  Buy and hold FAZ at the opening price of around $12.65 and then ride it up for fun and profit.