[JNUG] update

The chart dipped lower than expected in the backlink model below.  Instead of reversing in the high 7s, it went all the way back down to 7.




That small change created a falling wedge and I think wedges are 3s or C.  So in this case I want to be as conservative from an account preservation standpoint as possible and assume that that was WC of blue B as shown below.

If this is the case then we should see a rally to the 9.50 area before turning down once again as shown to the point where length red C  = length red A.

I could change this view if the resistance line within the circle is broken in any way but I currently think it will form a DDT as shown and then head down.

Current stops are at 7.70.  I'm going to err to the side of caution at this point.  If this takes me out and then breaks out I'll buy the first dip.  I might not max out my profit but I will make money while avoiding risk.

Come on, JNUG, impress the Hell out of me.  If you are going to do it, now is the time.