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

NUGT – NUGT broke 10.50 setting up a Wave 3..highest target short term could be as high as 14-15 on this one breakout

IBB – Worst case scenario is a full ABC to the 268-270 range or A = C on the 10 day chart..but that would be before another reversal..

FAS – [ms-protect-content id=”61,117,1559″] FAS is stuck in a big sideways W4 but hasn’t broken down in a big way..it could easily rocket back over 43 short term on a one day spike

TNA – TNA has formed another zigzag after the previous zigzag was supposed to complete, and needs to break above 103.5 to prevent further damage. [/ms-protect-content]