Wednesday, March 11, 2015

[UVXY] update

In the backlink I expected a breakout saying that because the DJIA futures had tanked that "the turn upwards [in UVXY] likely begins today".  The fact that it broke out was predicted by the futures.

The breakout occurred with gap and that is good but the subsequent action was not nearly as convincing.    So I think the model which calls the dip into late Fed as Wc3 and the current wave e of 4 has to remain my primary until I get more data.  It really needs to break out of the top rail of that triangle strongly in order to change my mind about this.  Lower lows are still quite possible so us stops at the lower rail of that blue rising wedge.


Anonymous said...

Almost five months ago, this is how you saw things.

Would you care to comment on this?

Thank you

The Captain said...

Hi Anon,

I will do a post on it.

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