[UVXY] update

In the backlink earlier today I provided the model below with clear guidance to look for a bottom into the close of high 24s/low 25s.



While had to update my count for blue 5 slightly, the price guidance was pretty spot on.  The low of the day was 25.20 and then from there I count 5 small waves up into red 1 and then 3 small waves back.  While it is not required, a gap up on Monday would lend additional credence to this model.  The minimum bounce I expect here is to $32 or $33.



If this model is correct then it should stay above red 2.  This is a fine place to set your stops.  By the way, stops do not mean that you need to stay out .  I use them as a check point.  What did the chart do that got me to the stop?  Can I see a way to count it bullishly? If so then I can step back in, often times with smaller size to match uncertainty that might be present for having stopped out.