Avi vs EWI on [S+P500] [UVXY]

EWI's model indicates that a major crash is beginning.  Avi is out today reinforcing his belief that the recent pullback is really just C of 4 of an ongoing bull market.  He's looking for the S+P to find support in the 2038-2056 range before taking off into a higher high.  Avi's model would probably peak later in Q3 with wave 5 at which time he would be looking for a major a-b-c pullback. 

So here we have two very good wave counters, each with a completely different count which would drive completely different trading choices.  At some point one of them will throw in the towel and flip over to the other's view but this is a good reason why I drive like to drive for show and putt for dough.

Per yesterday's UVXY post, I took profits right near the peak of the trade because that's when I counted 5 up complete.   Today we got the big 10% dip at the open right down to the 38.2 fib where my limit buy order was just sitting there to be filled @ $40.50  - I hadn't even woken up by then!  Thanks again to Mr. R.N. Elliott.  I rode out the first vee retracement to 42 but after the breakout I pushed my stops to $45 because if we are working on a 3rd or C wave, it should not be fooling around.  It should power higher without delay.  But if I am off by a wave then I will be protected from any significant pullback.  This stop is not arbitrary!  It is driven by the EW rule that wave 4 cannot go back into the range of 1.  So if we are working on 3 of 3 or 3 of C then the next move should be a 4th which should not trigger my stop.  If it does, my count was wrong and I am protected from this error.  I'll keep bumping my stops, locking in more and more profit in this trade while reducing my risk to downside.

Another socialist $hithole is about to collapse.. but this time its part of US!

Puerto Rico is a clear cut example of how liberal socialists eventually ruin everything they touch.  There is no reason for this beautiful island to be $72 billion in debt yet here we are.  And now they are talking about default.  Oh, they will call it by a different name at first and the front running name seems to be "debt restructuring".  But it is a default, the credit agencies will all call it a default and then borrowing rates will skyrocket and then it will become an actual default.  All because the people allowed greasy politicians to collude with greasy wall st moneymen and put the place in such unpayable debt that default is the only avenue available now.

The revenge of savers is coming folks.  When everyone else who bought everything they ever wanted on credit goes into default, the stuff that they bought will plummet in price as banks try to liquidate real estate, cars, you name it before too many other banks can flood the market with repossessed stuff.   Cash will be king and eventually gold and silver will be the only cash remaining.  I continue to believe that the worst part of the coming collapse happens before the end of 2017.

[$DJT] update

In the backlink I expressed a negative outlook on the transports in the belief that it was taking too long to break out in order to believe that it would end up an HT.  I wrote, "At this point is is starting to smell like a resistance line that cannot be broken out.  The market will not put up with much of this.  It will either break down or break out soon and which ever way it goes will be the trend for several weeks to follow IMO.... This is looking bearish to me."

Below is today's ugly looking transports chart.  The 4th wave potential is now nearly zero but I caution not to chase the shorts here.  Let it bounce and then short it.  Peace of mind is always worth more than a shot at a piece of the action.