[UVXY] update

Backlink.

Not much has changed in the UVXY picture and I still model that we are very close to a strong trading bottom.  Yesterday I was looking for something like this:




Today we got this.  We are very close to the point where green 5 is the same length as green 1.



I recommend patience for the red model below while understanding that the blue model is always possible.  A move higher than blue 4 would push odds toward the blue model but unless and until that happens I think that the current upswing is most likely red 2.  I won't touch this until I get either a real assault on blue 4 OR red 3,4 and 5.  I'll pile back in if I see either of these.