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.
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
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.