[JNUG] update

No sooner had I posed my previous worrisome update on JNUG that it fell back hard.  So far, at least, it has failed to put in 5 waves down.  We should know by tomorrow if this was just an a-b-c gap fill retracement or if something bigger is coming.  The shape of the pullback is looking corrective at this point but of course it's the wave count itself that will ultimately matter.  A good bet would have been to buy the close today and then set tight stops for tomorrow hoping for a gap up.  Sadly, I missed that chance due to work pressurez.  Again, the best long term thing for gold right now would be to fall to a lower low where GLD hits 95-105.  If that happened we could have high odds that a sustainable bottom is really in.   Otherwise there is still a good chance that EWI will be right and this will turn out to be nothing more than a suckers rally.