[JNUG] threat model

Notice how the recent peak did not move back up into the range of blue 1.  This means it could still be blue 4.  And now we have seen a valid HT form, throw over on the E wave and then come crashing back down into the channel with gusto.  If you must hold this, sell the breakdown below the lower rail.  Another likely sell point would be a kiss of the upper rail that cannot break out.  One more wave down would complete a motive series and I suspect it would be a failed 5th at this point.  This crap since March has not been motive, looks very corrective.  Be careful, the percentages involved are significant.