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

TQQQ – Off the 10 day low, TQQQ may have W1, W2 only if it can hold 618 fibonacci support at 112..first wave would be 109 to 117.5 and W2 retracement appears to be happening now.  MUST hold 112 and break 116 to setup an upward 3.

UPRO – 59.5 to 64.80 appears to be W1 off the 59.5 low, and a W2 retracement would need to hold at least 61.25 in the coming days and break above 63.5 to setup an upward 3…

GLD – [ms-protect-content id=”61,117″] Another W1, W2, W3 setup with a zigzag..if it holds 101.6 and breaks 103 above the top of the B wave, a W3 could form, but it’s been trapped below heavy resistance at 103-104 and seems to not want to form an upward 3.

IBB – A break of 339 to the upside would setup an upward 3..it broke out of a cup and handle W2 setting up a W3..that break would setup a move to as high as 358-360. [/ms-protect-content]

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