10/26/16 Elliott Wave Updates For ETF’s: $TQQQ $UPRO $IBB $NUGT

TQQQ – If TQQQ on this reversal can take out 130.25 it would setup a retest of resistance at 131 and form an upward W3.

UPRO – 71.75 is the key 786 breakout level off of the zigzag reversal this morning..if it can take that out there would be a retest of the 72.4 high and 1.00 breakout level..

IBB – [ms-protect-content id=”61,117,1559″] Trapped in a sideways 4 before 5 down at worst..262 needs to hold on to prevent further damage in a 5th wave.

NUGT – NUGT ABC flat support would be right at 13 and needs to hold that to prevent further damage.