[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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CEO Ted Aguhob, Master Elliottician and Technical Analyst, Day And Swing Trader, Website Designer And Marketer, Artist, Producer and Musician has provided content to gemxwave.com, wavegenius.com and masterofcharts.com for over 14 years. The biggest breakthrough as a blogger came in 2013 when Wavegenius.com produced a net profit of over $177,000 and became one of the highest earning blogs in the entire country. Many of his biggest and most amazing calls appeared on major financial websites like Thestreet.com, Yahoo Finance and MSN Money, was a radio personality on Washington DC Radio, and has a following in the tens of thousands for many years. Ted is known for his charisma, vision, creativity and better yet.."genius."

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