[Chart] $SPX Noon Elliott Wave Update 3.29.16 – Near 786 breakout

Mar29spx2

This is the Noon Elliott Wave update for S&P 500 3.29.16 based on the 10 day 1 minute chart… near 786 breakout and setting up for a strong move.

Best case scenario:  Best case scenario is we get a 786 reversal after an ABC from 2057 to 2023 into a an impulsive move…786 breakout is 2037 and we’re right on the edge of breaking it at the moment as of 11:53AM ET..if we clear that and 2042 due to NASDAQ’s strong push today, we may see a full 786 move of the zigzag over 2050.

Worst case scenario:

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Worst case scenario is resistance right at the 2037-2042 range and a reversal to the downside in a double top B wave before C…we’d see a fade at these levels below 2029 and setup a move to as low as 2005-2010.

Where I’m leaning: Due to NASDAQ’s big push in the past half hour over 1.00, S&P and DOW should follow with that move… 786 breakouts are about to happen on a spike so a move to test 1.00 on the latters wouldn’t be out of the question.

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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