[ETF Watch] An Elliott Wave Look At TQQQ UPRO USO IBB 1.07.16

TQQQ – Worst case scenario is a full downward 3 now that we can recognize that this is NOT 5 waves down…a full downward that’s 1.618 could target as low as 78-82 now that support at 618 and 786 are gone.

UPRO – Worst case scenario is a full downward 3… 1.618 at this point after 618, W5 = 618 x W1 + W3 and 786 support have all broken is as low as 49-51.

USO – Thinking it was a 5th wave 2 months ago when it started to spike but now that it broke support the worst most armageddeon thing that can happen is 618 X w1 + W3 to as low as 3.5-4 a share..yeah, still more downside.

IBB – First level of support at 1.618 down is 300, but due to the extension and size of the market correction it my finally find support at the 280 area.

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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