[ETF Watch] An Elliott Wave Look At TQQQ UPRO GLD IBB 12.23.15

TQQQ – Over 618 but not over 786 yet, NDX is lagging a little bit, but NASDAQ overall may help carry the TQQQ over 786 at 118 and into a bottom..and if NASDAQ bottomed NDX likely bottomed as well.

UPRO – Broke 786 at 64 which means there’s a very good chance of a bottom in both UPRO and the S&P 500…barring some random BS formation, things look pretty clear for a very late Christmas/New Year’s rally..

GLD – GLD is trying another 1-2-3 pattern..but it needs to hold 618 support at 101.75 and rally over 786 resistance at 103 to setup an upward 3 here..

IBB – IBB has a 1-2-3 pattern setting up and a full 1.618 move could target 362-365 on this formation…it has Wave 1, cup and handle 2 before 3 which is an extremely powerful chart pattern.

About the author

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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