Elliott Wave Update For S&P 500 3.08.16 – Best Case/Worst Case

Mar08spx

This is the Elliott Wave Noon Update For 3.08.16 for the S&P 500 based on the 5 day 1 minute chart…Best Case/Worst Case zigzag or downward 3 scenario.

Best case Scenario: S&P 500 formed a 4 up before 5 down on the intraday low..it would retest 1977-1980 and reverse back over 786 at 2000 to setup a zigzag and reversal scenario.  A wave would be 2008 to 1990, B wave up would be 1990 to 2006 and C wave is 2006 to the 1977-1980 range with a C wave about to complete in a 4-5 down..ideal zigzag and reversal scenario.

Worst case scenario S&P:  C wave support doesn’t hold at 1977-1980 and we get a downward 3 to the 1962-1965 range before any kind of bounce..at this point that would be a big extended 5 or a downward 3 follow through.

Where I’m leaning on S&P: 

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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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