Tuesday, March 8, 2016

[RUSL] update

In the backlink I was expecting a bottom very soon after a 4th wave HT finished but the HT turned out to be a head fake and it broke out the top rail like all other commodity plays.

I think that we have to be careful about thinking that the bottom for commodities is actually in yet.  The weakness, for example, in silver, could be telling us that there is one more wave down to come.  USLV and UGAZ better start catching a big bid real soon or I will begin to wonder greatly about them.

If this is going to form blue 4 it has to do it below the green line.  After going above the green line it can no longer be counted as blue 4.

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