[ETF Watch] A Quick Elliott Wave Look At TQQQ UPRO GLD IBB

TQQQ – May have seen upward 4 into 5 down…we almost hit 382 in TQQQ, and it can qualify as a 4..a 5 however may test 107 again, but I’d expect 5 waves down in a double bottom A/C wave before a bigger reversal.

UPRO – UPRO barely got 382 in an upward 3, but it may test 58.5 again in a full 5 wave pattern down in a C wave before finding it’s footing and reversing in a 618 or 786 bottom reversal.

GLD – Extremely wild chart patterns with a large vague zigzag that just reversed…already above 786 at 103.25 so it may break a new 30 day high and rally back to the 110-112 range..

IBB – W2 support is at 325 which is quite a distance away..if it can hold that level and break 335, a W3 would target as high as 355-360 in a full 1.618 move based on this 1-2-3 formation.

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