Tqqqebook
On the five year chart of the TQQQ, which is the triple ETF for NASDAQ
100, the first wave travelled from 8 to 47 approximately (based on the March 2009
low), the second wave retraced back to the previous four at 25, and the 3rd wave
target of 1.618 conservative was shattered in a big way when it hit 117 recently..
But the next target above 1.618 would be 1.618 X the multiple gain of W1.
This is calculated by this formula: 47 divided by 8 = 5.875, which is the multiple gain of TQQQ from low of 2009 to peak of Wave 1. Take that number mutiply it by 1.618 and you get 9.50575….multiply that number by the low of W2 at
25, and you get this result: 237.60 which is the “big” wave 3 move. It’s a common
occurrence in real bull markets, and NASDAQ 100 still has plenty of upside from
here, so it’s not a crazy target AND it’s a triple ETF