[Flash Alert!] S&P just held 2050 and broke 786 of the C wave (bullish)

This is a flash market update of the S&P 500, as it’s ready to turn positive! Strangely enough.

In a pretty wild twist of events in the wave patterns, A = C held at 2050-2052 intraday and sure enough the bounce was way strong enough to break 786 of the C wave just 5 minutes ago..this is a setup for an upward 3 as opposed to a downward 3..I was leaning towards downward C or 3 and test of 2042, but the reversal happened very fast in a large spike and it looks like an attempt at an upward 3..still early, but S&P is about to go positive surprisingly.

At this point I’d look for that 1.00 breakout above the B wave, or a positive move and on that breakout going long might not be a bad idea..it might be premature considering how volatile resistance level failures have been, but this one actually is starting to look legit and not as scary as it was earlier this morning.

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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