[UVXY] update

In the backlink I modeled this:



Current snapshot is below and is tracking the model nicely so far.  Above shows inclining double bottom but, per below, I think a move all the way down to $25 could happen during wave red 5.  If you see anything even close to the model below then red 5 is clearly a high odds EW buy in point.















In any case if we get this 3 wave move up to red 4, bail out of UVXY and then wait to see if it stops there or hits a higher high.  If higher high, don't chase.  Let it a-b-c back to you.


I should mention that both Avi and EWI count today's low in the broader mkts as a B of 5 of an ending diagonal.  They believe that the C wave, a motive upward wave, begins next week.  So my count above is at odds with their counts.  If UVXY is bottoming per my model, DJIA is not going up...  Time will tell.