Current snapshot shows that we are likely either at or rapidly approaching the modeled bottom levels and this is expected to be quite a major bottom. It seems that my W3 indicator served me well again in this count so far. It convinced me that the count wasn't done yet.
In any case, wave green 5 won't equal the length of green 1 until it hits $8.40 so if we get a move up from current levels, us stops just below the right hand butt cheek of this current double bottom.
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Bought $RUSL this morning at 9.2
Rusl just hit my double tops downside target of $8.65.
I bought at $8.72. It subsequently formed what could be W3 down into $8.65 and so there is a fair to good chance that it will still hit my original $8.40 target but it will most likely bounce soon to at least $9.40 and quite probably a good deal higher so I will sit through a 5% final shake out at tomorrow's open if that is what the herd feels like doing. My UGAZ and NUGT positions have me smiling today. I have been restricting my blog posts to outside of work hours lately and going forward so expect more updates in the evening.
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