[ETF Watch] Quick Elliott Wave Look At TQQQ UPRO IBB GLD 12.29.15

TQQQ – Clear 1-2-3 pattern setting up off the recent lows..completed ABC double bottom C wave wave into a 1-2-3..highest target could be 128-130 off this reversal pattern and a 1.618 X W1 move…

GLD – It still has the W1 that travelled 3.5 points, into a W2 zigzag..needs to break at least the top of the B wave at 103.10 to setup an upward 3..highest target could be 107-108 if it breaks the top of the B wave resistance.

UPRO – [ms-protect-content id=”61,117″] Clear 1-2-3 pattern like TQQQ setting up off the recent ABC double bottom C wave into 1-2-3 reversal..highest target could be 72-73 if S&P 500 closes right where it is or higher at the moment.

IBB – Middle of a choppy -1-2-3 pattern..full target could be 375 if it travels 1.618 X W1..the cup and handle 2 before 3 pattern is strong enough to setup that type of move here. [/ms-protect-content]

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