[ETF Watch] An Elliott Wave Look At TQQQ UPRO GLD IBB 12.23.15

TQQQ – Over 618 but not over 786 yet, NDX is lagging a little bit, but NASDAQ overall may help carry the TQQQ over 786 at 118 and into a bottom..and if NASDAQ bottomed NDX likely bottomed as well.

UPRO – Broke 786 at 64 which means there’s a very good chance of a bottom in both UPRO and the S&P 500…barring some random BS formation, things look pretty clear for a very late Christmas/New Year’s rally..

GLD – GLD is trying another 1-2-3 pattern..but it needs to hold 618 support at 101.75 and rally over 786 resistance at 103 to setup an upward 3 here..

IBB – IBB has a 1-2-3 pattern setting up and a full 1.618 move could target 362-365 on this formation…it has Wave 1, cup and handle 2 before 3 which is an extremely powerful chart pattern.

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