1.27.17 Elliott Wave Updates for ETF’s: $NUGT $FAS $TNA $IBB

NUGT – NUGT got 5 waves up to the 12-14 range and dropped in a W2..a good buy area would be in the 9-9.50 range should it drop there in a full corrective W2

FAS – After a large run up FAS is correcting in a W2 before W3…if it can close above 43.5 after a zigzag it could target as high as 47-48 short term

TNA – [ms-protect-content id=”61,117,1559″] TNA is correcting in a deep 2 and to setup a W3 and prevent further damage it would need to close above 105.25

IBB – IBB appears to be stuck in a w4 sideways move before 5 down…good buy would be in the 260-262 range should it drop there [/ms-protect-content]