12.05.16 Elliott Wave Updates For ETF’s: $NUGT $IBB $TQQQ $UPRO

NUGT – NUGT looks pretty close to bottoming out long term, but my target is $6 so I’d like to see that first before calling a real bottom here.

IBB – Looks like in a corrective W2 that held 618 support, but has only retraced 382 in a W4..so it could still see a 5th wave down, but after that a 618 reversal

TQQQ – [ms-protect-content id=”61,117,1559″] 125 is a 618 retrace and 127 is a 786 breakout in TQQQ..I’m expecting both levels to be cleared as soon as this week

UPRO – Broke 786 at 78 setting up a Wave 3..a close above 78 would set it up [/ms-protect-content]