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

NUGT – Potentially a 5th wave down with an ending diagonal is forming as discussed earlier, but the problem again is that it’s not occurring on a new low, so this remains a toxic ETF

IBB – IBB completed an ABC zigzag and appears to be reversing in a W3..a break of 302 would setup a move to the 330-340 range

FAS – [ms-protect-content id=”61,117,1559″]FAS got a 4 up and a 5 down fade intraday, but a 5 has a bit lower to go before reversing

TNA – Has 5 wave down appearance with a 382 w4 stuck in there, but it needs to reverse in a big way by the close to setup a 618 reversal [/ms-protect-content]