Instead, it looks like a 4th wave HT could be forming and so I am changing the count to match the DJIA count per below. A move above $73 at this point should give shorts cause for concern. Keep in mind that larger models from EWI are all well and good but we do not have even 5 waves down yet. Once we get 5 down per below, it opens the door for another 5 down at least.
I still am far more heavily weighted at present toward commodities but if we get blue 5 down as shown then I'll be looking to load up into UVXY for the 3rd wave down in markets. In other words, if blue 5 happens then wait a-b-c to a move back to the prior 4th and then re-enter short with tight stops.
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