S&P 500 Elliott Wave Forecast For 12.15.15 – Must hit retracement levels in 382 to bottom

Dec15spx

This is the Elliott Wave Forecast of the S&P 500 for 12.15.15 based on the 30 day 1 min chart…what we need to get the S&P to bottom after 3 waves down at 1.618.

Best case scenario:  The futures are indicating a slight upside move, but S&P 500 would need to hit at least 2032 or 382 in an upward 4 of the entire downward 3 that terminated at 1993.25 earlier today..if we get that, all that would be left is a mild 5 down to retest the low of the 3 …after the 4-5 I’d expect at 618 reversal to at least 2062 or higher in a 786 reversal..

Worst case scenario:  Failure to hit 382 at 2032 would results in an extension of the downward 3…worst worst case is a retest of 1993 to the 1980-1985 range before finally reversing in a 618 move in a bottom.

Where I’m leaning:

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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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