[BKX] update - big trouble right ahead.

The model below was from the backlink.





Maybe there will be a tiny move up on Monday to kiss resistance from below but then I expect a big wave of selling to kick in that moves rapidly to a lower low.  If this occurs then the model says that 3 of 5 of 1 has begun.  This means hold short the markets by being long UVXY until at least wave 3 of 5 is complete.  Being a 3rd wave I do not expect it to dally about.

The nature of the down turn should be to cause enough panic for the weakest hand longs to sell and even to suck in a few new shorts near the bottom who will then get destroyed when a vee type wave 2 retraces back to the level of the prior 4th.  IFF this model holds you will mos def want to give UVXY back to the market in order to side step that deep vee.  The M+M charts indicate that that will be a good place to ride back up with the markets (JNUG, RUSL, etc.)