[JNUG] update

At the backlink I was modeling for this to occur (red being primary):



Actual is below.  I was hoping for a clearer finish than this as this still leaves questions because of the unclear nature of the wave count but I got some in the low 38 range and am holding over night.  If this count is correct then that little dip down will stand tomorrow as a unicorn tail and this will likely gap up as shown but if it needs to go lower I bet it gaps down in order to take out stops that are set below today's low.  I'm only in a 1/2 position in order to get more at 5' if that is what it is going to do.  Otherwise I will buy the next dip.  If this falls below $29.50 then something is very wrong with the model so bail out first and then ask questions later.




That is not to say that I don't see how this could count as completed.  I count it as WCD per below.  But Wx is not part of EW so I feel compelled to 2nd guess it less I drink too much of my own kool-aide.



If this is correct then D of HT4 is now complete.  If D turns out to not yet be complete then we likely still have to travel down to $36 or perhaps even as low as $35 before it completes.  If this doesn't gap up in the AM tomorrow then my suspicions will be raised about this.  Generally the turn comes quickly and if it doesn't then suspect a possible short term head fake.  Today's low was $37.07 so that's where my stops are.

Zooming back out to the big picture, the model is now suggesting a quick ride to 50% gains.  It might not get all the way up there.  It might short stroke E of HT4 because of resistance I showed a couple days ago but the count should nonetheless be 5-3-5.  As always , the clear sell signal is if this breaks out the top rail and then breaks back down into the body of the HT.  If that happens then GTFO and if you are balsy like me, swing short into JDST.

Hope to see you there!