BUD, UAA updates 07/13

Member request 🙂 Please keep them coming!

BUD: IMHO counts best as being in (red) intermediate-ii of (black) major-5 and may have already started intermediate-iii. Alternative is of course it’s intermediate-iv wave is becoming more complex. As long as the 200w SMA holds up it is. The weekly chart is starting to give buy signals confirming the notion intermediate-iii is close to getting started 🙂

BUD weekly


UAA: Cycle wave 1 (purple C1) topped in late-2015 and C2 is now underway. Price is clearly in a long term downtrend channel and (blue) primary-C is now underway. It either consists of 3-waves (red i, ii, iii) or the more typical 5-waves. Then former means C2 has bottomed, the latter means red-iv is underway to ideally the $28ish level and then wave-v for a final plunge to ideally ~$14: the 76.4% retrace of all of C1. A typical 2nd wave level. Note this is a monthly chart.


The daily chart below shows price is still below its 200d SMA and kind off “playing” with the 20d and 50d SMA, which are also below the 200d SMA. This is NOT a bullish chart setup and thus I would highly recommend waiting for price to be above the 200d and the SMAs should also be bullishly stacked :20d>50d>200d. That increases the odds of “good things to happen” much more than trying for bottom fishing. Money is made in the trend not in the highs and lows!

UAA daily