[UVXY] update

In this post and even a bit earlier I was modeling a 4th wave HT that would eventually break down into a 5th wave down.  In multiple later posts like this one I stuck to my model that a 4th wave HT was near breakdown and in this post I showed how this could end up being a giant falling wedge. 

So where are we in all of this?  Well as you can see from below, I'm modeling Wed as 3 of 5 and part of 4 of 5 which will back test the falling wedge from below and then hit a lower low before moving back up into the area of $18.

How it gets there will determine if the coming bottom is 1 of 5 or 5 of 5.  If this does an a-b-c back up to $18 it will be very bearish with implications that it is going to fall below the lower rail of the falling wedge in the 2nd post above.   But if we see 5 waves up then it could lead to something much larger.