[JNUG] update

For the past few posts I have been modeling JNUG as a 4th wave in the making, with the C wave potential up to $11 as shown by the model below taking from the backlink.



That model required an almost immediate break out of the top rail and subsequent trading did not provide this.  Unless this moves up over that top rail very near the open on Monday I fear that the model below will become the new primary model.  It would still be a 4th wave but a more traditional HT than the a-b-c shown above.



Zooming in to just red 4 and 5 of this new potential model.  If this happens, JNUG downside to $4 is possible if not likely.  This could be in place by late next week.  The lower this goes, the more likely that Avi will be right IMO.  A big washout bottom will be a lasting one.

Note that wave sizes do not pay attention to percentage.  So these last few waves down, should the conditions below be met, could trim 50% off JNUG into the final bottom.  That means that the trip just back to current levels would be a 100% gain.  Volatility is alive and well when the beach ball is being held under water.