Sunday, March 13, 2016

Soon I think [UVXY] will reverse upward strongly

Just to keep the record straight, I have not given up on my primary model being that UVXY will not create a new all time low as part of the current downward wave.  I view this as a massive correction, perhaps part of a 4th wave HT which will eventually result in a lower low per the most recent high level chart but perhaps some different kind of correction.  But I don't see it as being motive at this point.  Of course, if it goes below $24 then I will simply have been wrong.  But the count is telling me that the odds are good that profits will be had to the upside on UVXY starting very soon.

So how soon might "soon" be??  Well, assuming we are now working on 5 of C, soon could be as early as Monday and quite probably no later than Tuesday.

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