S&P 500 Morning Forecast For 12.16.15 – 1-2-3 Pattern To Full 618/786 reversal -> Targets

Dec16spx

This is the morning Elliott Wave Forecast of the S&P 500 for 12.15.15 based on the 30 day 1 min chart.  1-2-3 potential scenario to 2066 (618) 2080 (786) or 2100+ (1.618)..

Best case scenario:  Pre-market the S&P is breaking above yesterday’s zigzag high setting up another upward 3..highest target could be 2100-2105 on a 1.618 move if this is a Wave 3…but it would need to clear 618 at 2066 and 2080 at 786 to create the full upward 3 and bottom and I expect that as soon as today or tomorrow.

Worst case scenario: Immediate fade at 2054 below 2040 setting up a W2 to test 2025 at 618 fibonacci support..I’ve seen it happen like that before, so make sure we’re above 2054 at the open if you’re going to buy, or past 2054 past 10AM today at least..

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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