1.06.17 Elliott Wave Updates For ETF’s: $FAS $TNA $IBB $NUGT

FAS – FAS broke the top of the W1 setting up a W3..highest target on a W3 if it travels 1.618 X W1 would be 46-47 short term

TNA – TNA didn’t have the reversal like FAS and has two B waves into a possible C wave down if it closes below 102.5

IBB – [ms-protect-content id=”61,117,1559″] IBB broke into a Wave 3 after W1-W2 and could target as high as 295-300 on this breakout formation

NUGT – After almost touching my $11-$12 target NUGT is pulling back in a W2..previous 4 target 8-8.5 [/ms-protect-content]