Thursday, April 2, 2015

Crunch time for [JNUG]

In the backlink I provided this model:

The current snapshot is below. The chart moved up a bit higher than anticipated which I think is bullish but then we got the expected 3 wave pullback to just about where my model expected it to go.

The recent move up needs to grow legs very soon (as in before the close today) in order to continue being viewed as the red path.  Otherwise the blue path will more likely occur.  I have to say that as of now, that first move up from the low $18 range is not what I would expect from what should be 3 of 1 of 3.  It looks corrective (choppy and overlapping) so far.  Still, it remains my primary count for now.

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