Supports for TNA should be 105.58 and 104.98 as seen on this chart, (link) but ideally, should continue to our targets at 108.88 and 109.27 where we plan to sell 50% of our remaining position, after that we will only hold a core composed of 680 shares that were bought at 104.48 average, this because, since wave 2 was so deep, it is very hard to define the target for the retrace after 108.88-109.27 area is hit.
Nothing from all the indicators we follow regularly is signaling a reversal, but in case market provides a pullback to 104 area again, this should be buyable and we will use it to rebuy some shares we sold at highs yesterday.
NUGT
December 30thIn the blue count, NUGT has completed wave 3 at the 6.854 extension and for practical purposes that’s all what matters, chart here (link); 8.08 and 7.72 are levels to watch, but considering all what extended we should not look for any continuation in wave 3 but to look for the target for wave iv in the 7.83- 7.39 range.We could post more about the gray subdivisions in i-ii/i-ii but that’s irrelevant at the moment.
Current update;
I have to say that from those 7.55 lows NUGT’s action has been more than heroic, ideally should hit 9.91 as seen on this chart (link) and that would complete wave 1 up from the very lows, reasonable probable target for today is 9.52-9.46. Have no more to say, perfect fibonacci pinball.
SHAK
For as long as SHAK holds 38.45 a direct path to 43.75 is reasonable probable, so for all purposes we will add to our core once and immediately after 39.51 is taken, strong above 40.23 we would have more certainty about our 43.75 target.
