SPXL, SSO, UPRO update 11/21/2015: new market count forces new ETF count

Just recently we update our ETF counts, but last week with our new market count we are once again forced to revisit these ETFs. So here it goes. 🙂

SPXL: Clearly we see the ending diagonal (ED) for intermediate v of major 1, which was -as ususally- entirely retraced during major 2. Price is now in intermediate i of major 3. Minor 3 target at $95-$96, then minor 4 down to $93 and intermediate i up to $97-$98.

spxl

 

SSO:  Same count here, obviously, but we wanted to point out the possible large ED that could be forming.In that case 1, 2 are a,b Ultimate target $80. For now, however, we use the regular 1, 2 count until proven otherwise. Next target $70.50ish

SSO

UPRO: Here we can show the subdividing waves of intermediate i a bit better. Minor 3 targets $70-$71, minor 4 back down to $68-$69 and minor 5 back up to $72-$73. Note that the ED pattern -as in the above shown count for SSO- is not present here.

upro