Nothing has really changed from the backlink. Current snapshot is below and it should be noted that JNUG is up a few percent on a day when GLD is actually slightly red. If this model is correct then very, very shortly we should see a rapid move up because the model indicates this should be a 3rd of 3rd. Such a move will likely be accompanied by "news" which supports an attitude change of some sort. I don't have any clue what that "news" might be but this model suggests that the herd will see it as significant and react strongly to it.
IF this does not begin to happen soon we must begin looking for other models because 3 of 3 has to move rapidly and with conviction in the intended direction of travel. Sideways action here should be a signal to traders to be careful with long positions. The model requires a big move up soon or the model will become very suspect.
No comments:
Post a Comment