S&P 500 Morning Forecast 9:45-12PM – The start of downward 3 or C – Targets

Dec08spx2

This is the morning Elliott Wave Forecast based on the 30 day 1 min chart of the S&P 500…looks like the start of a big C or downward 3..targets:

Best case scenario: 2042-2050 holds and we rally above 2070 by the close..that would be a zigzag retracing the move from 2042 to 2094 in a W2 move.

Worst case scenario:  By the close 2042 is broken and we either get a full C or 3 down…a full C would target the start of the A wave at 2019, and worst case is a full 1.618 downward 3 to test 1994..that would be W1 = 2104 to 2042, upward 2 = 2042 to 2095 and downward C 2094 to 2019 or downward 3 from 2094 to 1994.   The charts are really broken right now on this gap down.

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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