I was really hoping for more upside in UVXY today and so I bailed out for a 6% gain into the close. I can always get back in if this stays on top of the top rail tomorrow but I fear that the falling wedge will be extended. I just don't see 5 motive waves up here like I assumed I would see and of course no gap which was hoped for by the backlink model below.
I made a nice chunk playing the turn on this but I'm on the sidelines until tomorrow tips its hand.
Monday, October 26, 2015
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