$ES_F $SPX Elliott Wave 3-4 PM update – Another attempt at W3

Dec01spx3

This is the Elliott Wave closing bell update for 12.01.15 on the 2 day 1 minute chart of the S&P 500…I’d be suprised if this formation doesn’t breakout…essentially.

Best case scenario:  Intraday 2098 to 2087 in the fade was an A, we got a 2 wave B wave to 2095, followed by the C wave that held support at 2091…this should be W1, W2 ABC flat into a W3, and if it works out there’s a good shot at a long extended grinding Wave 3 that could take S&P 500 to as high as 2200 by year end.

Worst case scenario:  Failure at 2097 and a drop in a C wave that breaks previous C wave support at 2091..if this happens we may see 2087 again….

Where I’m leaning:  ABC flat 2 into W3 is what I’m rooting for and S&P is just 1 point away from breaking out above 1.00..if this happens I’d continue to stay long…I have UPRO and TQQQ 1000 shares of each.

 

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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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