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

NUGT – NUGT dropped to $6..and lower to the $5’s and at this point, looking at the GLD and physical gold, there’s still plenty more downside to the 3’s.

IBB – IBB is still struggling to complete 5 waves down and needs to break top of 4 at 275 to stop the downtrend..

FAS – [ms-protect-content id=”61,117,1559″] FAS broke a new 10 day high this morning, barely, but needs to close above the intraday high to setup a continuation of a W3

TNA – TNA needs to close above 105 to setup a continuation of a Wave 3 after a big zigzag in the past 5 days [/ms-protect-content]