Elliott Wave Noon Forecast 11-1PM – $ES_F $SPX S&P 500 Intraday W1-W2-W3

Nov18spx3

This is the Noon Elliott Wave Forecast For November 18th 2015.  S&P 500 1-2-3 pattern to potentially 2125 about to break(!)

Best case scenario:  DOW already broke 1.00 so SPX should follow here shortly..a clear break of 2063 would setup a follow through 3 of 3 to as high as the 2120-2125 range..that would mean that the bottom reversal from 2019 to 2066 was Wave 1, W2 was a zigzag correction from 2066 to 2047 and the spike reversal today is the start of a Wave 3…  2120-2125 is 1.618 X W1 in a golden ratio 3rd wave move, and the only logical move right now.

Worst case scenario:  Failure at 2066 and a C wave drop to test 2047 in an ABC flat. That scenario is fine as that would be another Wave 2 formation.

Where I’m leaning towards:  Easily this is a Wave 1, Wave 2, Wave 3 setup to the full 1.618 Wave 3 move…the pattern is fast, the zigzag is identifiable, and the breakout looks clear at this point at least in the DOW…I’m going for the full 618 reversal to the targeted 2120-2125 level before I’d sell all my positions..going long any point here is fine..low risk move.

 

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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