Thursday, November 5, 2015

[UVXY] update

In the backlink I was looking for a probable reversal at the 50 fib:




Instead it continued to grind down to the 61.8 fib.  That's 13 peak valley reversals up and 3 waves down.  When the waves are choppy, 13 up is exactly the same from a technical perspective as a 5 wave up motive wave.  I model that the markets will be selling off as soon as tomorrow.

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