EWZ, VLO update 5/15

EWZ: likely still in major 1, possible already in major 2. That’s all there is to it.



VLO: Price still hasn’t tipped it’s hand if it just a bounce (3 waves up to be followed by a drop well-below $50, or if it has started wave 1 (5 waves up to over $70, to be followed by 3 waves down for wave 2 and then the rip-roaring wave 3). A drop from current levels below $57.50 is a first sign of worse things (c-wave) to come.