[UVXY] flashes buy signal - buy the dip.

Here is the most recent UVXY update that has a chart model.  Below is the model from that post.  I was expecting 5 waves down into the $35 level.




While it did not dip all the way down to $35, it did go down in 5 perfect EW steps to $35.85.  Today's strong 9.6% reversal based on a crappy little 100 point DJIA sell off is a big warning sign to longs to run for the exits.  What we want to see is shown below in red: a pullback tomorrow AM that then reverses back upward to rocket past that gap marked in green so that the market understands that this rally is not some crappy little gap fill.  Also, wave 3 of this new motive wave up should definitely end higher than red 4 so that the market does not think this is an a-b-c move to the level of the prior 4th.

Now, in case, that just seems like a completely random/lucky call, please recall back to this post from late May where the following model was provided.  E of 4 extended a bit more than normal but otherwise that model, which also predicted a 5th wave bottom to be put in around $35, was spot on.  I'm going to stick with the price target that I made in that post of "$55 or better by the end of June". 

Buy the 3-wave a-b-c dip folks.  The train has not left the station.  It's just now getting the boiler fired up.