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

FAS – FAS is trapped in a sideways W4..hard to draw a short term target based on this formation but long term target is 58-60 on 1.618

TNA – TNA is correcting in a W2 move and touched the previous 4 this morning..it rallied in a 4th wave before a 5th wave and reversal

IBB – [ms-protect-content id=”61,117,1559″]After a large run up, IBB is correcting in a W2 move and touched the previous 4 today at 285

NUGT – NUGT may have completed a W2 zigzag but would need to take out 13 to sustain a W3 [/ms-protect-content]