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

FAS – A break of 48.90 after a zigzag would setup an upward 3 to the 52-53 range

TNA – A break of 107.5 would setup an upward 3 back to as high as 112-113

IBB – [ms-protect-content id=”61,117,1559″]IBB on this fade appears to have formed a C wave down after a B wave up and needs to hold support at 294 to prevent further damage

NUGT – NUGT needs to hold support at 8.5 to keep the uptrend from the Fed low intact [/ms-protect-content]