Praying For Peace: The Aftermath For The Market And S&P Bottom Scenario

 

Nov16spx

In the face of the aftermath of the horrific terrorist act Friday night in Paris, the after hours action in the market indicated at least a 1% drop in the S&P 500, DOW and NASDAQ…everything came crashing down with the attacks after hours.  But..

When I look at the 30 day 1 minute chart of the S&P 500, I see a potential bottom scenario..the fact that VIX will likely spike to the mid 20’s on Monday is why I’m seeing this exact scenario.

The first wave down was from 2117 to 2070 or about 47 points, the upward 2 rallied from 2068 to 2087, and the downward 3, if 1.618 X W1 would target the 2000-2006 range in the S&P 500.

I’m betting the VIX will hit the magic 23-25 mark at the open on Monday, while S&P 500 hits the lower end of 1.618 at the stated 2000-2006 range, and we end up seeing an upward 4…the rally off the open MUST hit 382 to this W4 level:  2031-2037 intraday or within the next couple of days to stop the Wave 3 finally, and we get the 5th wave down and reversal back over 2070 and beyond in a pure bottom.

So far it just looks like a Wave 2 correction, and the VIX hitting the 23-25 magic number on Monday will help a lot.

We need these readings:

VIX: 23-25 , S&P 500 holding 2000 and .382 W4 back to 2031-2037

We get those readings this fearful period in the market would be over.

Praying For Peace: The Aftermath For The Market And S&P Bottom Scenario on November 14, 2015 rated 4.9 of 5

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...

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