S&P 500 $SPX 11-1PM Forecast – 786 breakout into huge upward 3 of 3 time.

Nov17spx2

Intraday Elliott Wave Forecast For S&P 500 Nov 17, 2015 11-1PM ET…based on 7 day 1 minute chart.

Best case scenario:  786 is just 1 couple points away from breaking S&P 500, and that’s the key breakout level..that’s 786 of the downward C that dropped from 2087 to 2020 in the past week..ABC is now completed if 2065 is broken and we close above today.  This scenario basically signals the bottom of the big zigzag we’ve seen since the beginning of November and will signal the start of a huge 3 of 3 move into the end of the year minimum and beyond.

Worst case scenario: resistance at 786 2065 level in the S&P and a test of 618 support down to 2040.  Rarely do I see 786 breakouts fail after big zigzags like we saw…failure happens maybe 10% of the time on this formation.

Where I’m leaning: Bottom all the way and year end rally has just begun..this could be quite a “doozy” in terms of size and scale as it could be the 3 of 3 burst coming from the August lows.   80%-90% chance something huge to the upside happens until the end of the year…big bottom in August, and Wave 2 bottom we saw yesterday before 3 of 3.

 

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."

Related Articles

  • SPX 2,191.95 +0.87 0.04%
  • Apple Inc. 109.90 +0.41 0.37%
  • PCLN 1,473.00 -6.66 -0.45%
  • TQQQ 117.67 +0.47 0.40%
  • UPRO 76.43 +0.14 0.18%
  • Facebook, Inc. 115.40 +0.30 0.26%
  • AMZN 740.34 -3.31 -0.45%
  • NFLX 120.81 +3.59 3.06%
  • GOOGL 764.46 +0.13 0.02%
  • ACIA 66.41 +1.04 1.59%
  • TWLO 30.38 -1.49 -4.68%
  • Alibaba Group Holding Limited 90.48 +0.62 0.69%
  • NUGT 8.52 +0.79 10.22%
  • IBB 270.46 +0.97 0.36%
  • CMG 400.03 -2.35 -0.58%
  • SBUX 57.21 -1.30 -2.22%
  • TSLA 181.47 -0.41 -0.23%
  • Microsoft Corporation 59.25 +0.05 0.08%
  • BIDU 161.67 -1.41 -0.86%
  • PNRA 213.67 -0.02 -0.01%
  • BWLD 168.10 -2.60 -1.52%