S&P 500 1-4 PM Update: Upward Wave 4 Sequence (Crash Stopper!)

Nov16spx2

Here’s the 1-4PM Elliott Wave Forecast For the S&P 500 into the end of the day…7 day 1 minute chart.

Best case scenario:  We’ve seen the full 1-2-3 down that fell short of 1.618 and S&P 500 has entered a W4..it needs to hit around 2042-2045 or at .382 to put an end the the vicious downward 3 we’ve seen over the past 1 1/2 weeks.  It could or should happen into the close, so I’m not saying buy yet…it would be 4 before the weakest wave in the sequence, the 5th wave down.

Worst case scenario: We fall short of the full 382 to the 2042-2045 range and we fade into the close setting up the full 1.618 downward 3 to the intended 2000-2006 level.  After that move the real upward 382 W4.

What I’m expecting:  An A=C upward zigzag would target 2042 on the nose intraday, and that would be enough to get the “crash stopper” W4 382.   That’s how I make these bottom calls..look for 1.618 and get 382 which would but a bottom in.  The VIX hit an extreme already so any 5 down would spike it to the 23-25 area and put a cement floor in.

About the author

CEO Ted Aguhob, Master Elliottician and Technical Analyst, Day And Swing Trader, Website Designer And Marketer, Artist, Producer and Musician has provided content to gemxwave.com, wavegenius.com and masterofcharts.com for over 14 years. The biggest breakthrough as a blogger came in 2013 when Wavegenius.com produced a net profit of over $177,000 and became one of the highest earning blogs in the entire country. Many of his biggest and most amazing calls appeared on major financial websites like Thestreet.com, Yahoo Finance and MSN Money, was a radio personality on Washington DC Radio, and has a following in the tens of thousands for many years. Ted is known for his charisma, vision, creativity and better yet.."genius."

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