$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.

 

About the author

The secret of many top analysts and traders...(in fact mutual fund managers, hedge fund traders and even a couple seat owners of the NYSE are subscribers!) Wavegenius.com. Ted "Wavegenius" Aguhob since 2001 has profited on 80%-88% of his trades EVERY year since the inception of his blogs and websites..Ted has made and incredible amount of calls during this period including: 1778% gain in 03-04 from swing trades, The 2009 bottom lows of S&P DOW and NASDAQ literally right on the number, the massive 3rd waves when SPX made it's run from just over 1000 to 2400+ that we're seeing now (these calls were written by Ernie Varitimos on articles on the FRONT PAGE of TheStreet.com, Yahoo Finance and MSN Money for a week), The exact all time low of Apple and Facebook and the huge move that followed on Youtube videos, and he's had Top 20 Charts of stocks that 90%-100% of the time were accurate...at the time the calls were considered insane to most and hundreds of his charts have been like that..until they actually happened...as a result Ted with a tiny audience made almost $177,000 in 2013 as one of the top earning blogs in the country. His following is beyond fanatical, and has been hidden away for many years with many websites and competitors refusing to partner with him..mostly because he'd walk in there and take away many subscribers and traffic from them...

Related Articles

Chat with Ted now! I'm online!
  • Unfortunately, we could not get stock quotes this time.