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

NUGT – NUGT still stuck in a long sideways 4 waiting to test $6 a share..again the big A = C target is $6 from the 1 year high.

IBB – It appears IBB is close to 5 waves down from the 1 month high and could reverse in a big way if it clears 275 or the top of the 4

FAS – [ms-protect-content id=”61,117,1559″] FAS has formed a perfect ABC zigzag and would reverse and form a continuation of a Wave 3 if it closes above 42.5

TNA – TNA has formed an A = C zigzag and would complete and form a con’t of a Wave 3 if it reverses over 107.5 [/ms-protect-content]