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

FAS – Intraday FAS has formed 5 waves down from the highs set this morning…this would mean a 618 reversal is coming so it’s a good buy right at this moment

TNA – After a zigzag TNA broke 105 this morning setting up a Wave 3..it would be confirmed if TNA broke 106 in the coming days

IBB – [ms-protect-content id=”61,117,1559″] If IBB broke 284-285 in the coming days it would setup a big wave 3 to as high as 320-330 short term

NUGT – NUGT needs to break 10 to setup a Wave 3, but it’s been stuck in a flat W2 for the past few days [/ms-protect-content]