$ES_F $SPX Elliott Wave Update 1-3PM – 618 X W1 + W3 5th target near

Dec03spx2

This is the noon Elliott Wave Forecast For 12.03.15 on the 7 day S&P 500 1 Minute chart..best case scenario…2055 or 618 X w1 = w3 holds and we finally reverse after a violently fast vicious correction..

Best case scenario: This has the 5 wave down appearance as detailed in the S&P chart, but the 5th wave was not the mild version..it’s the 618 X w1 + w3 version at LEAST…we did get the 382 retracement so we have to swallow this 5th wave for now, and it may head to as low as 2055-2057 before finally reversing…again, it does have the 5 wave down appearance, only the 5th wave was the full nasty 618 X w1 + w2 variety.

Worst case scenario: 2055 breaks and it turns into a full downward 3 at 2.618…this scenario is very rare..maybe 10% of the time it happens, so betting on support at 2055 makes sense here.

Where I’m leaning: ¬†We have to see how 2055 holds here..if it can hold and break 2065 by the close there’s a good chance this is a corrective 2 before upward 3 instead of anything worse…on the 6 month chart it looks like “just a Wave 2”.

 

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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