S&P 500 $SPX $ES_F W2 support broken..this is getting bad ..and scary..shock is the word

I’m having a hard time believing what I’m seeing at this point..this is just straight parabolic down after an 80% breakout…I guess this is the 20% of the time that fails…W2 support has clearly failed and the only support is 2018-2020 where this entire previous rally started…we bottomed in an A wave at 2019, rallied in a B wave and due to the ferocious and scary nature of this move, looks like a VERY FAST C wave in an ABC flat at BEST.

I’m not THAT worried but W2 support is broken…I have to swallow at least the C wave to test 2019 move now, and if there’s any silver lining it’s just an ABC flat with a broken B wave that’s retracing back to the start of the impulse that we’ve seen in November.

We’re getting a move like this at the very start of the month of December, but I’d only freakout if 2019 is broken by next week. The chart isn’t broken long term, but short term this is a “slobber knocker” of a C wave that was completely unexpected..I rarely see flats, mostly zigzags.

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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