Well ... we got that 3% just this morning.
I can marry it to the 1705 high from last night, but the 5th wave leg to get there no longer relates to the 56pt wave 1 that began April 18th. It's just a target up in the ether. Figure that any touch of that TL next week (if we get up there) is a potential reversal.
The 1705 high comes out of a simple channel projection of the wave 2-4 trendline and yesterday's high:
Bryan -- really interested in your comments here, how badly I distorted your ideas for my own agenda, etc etc.
UVXY is so muted this morning, it really makes the overnight dive very suspect.