S&P Elliott Wave Forecast For 12.08.15 – Downward C zigzag or downward 3 setup

Dec08spx

This is the Elliott Wave Forecast For 12.08.15 based on the S&P 4 day 1 minute chart…there’s a 1-2-3 down or ABC setting up to the downside on this formation..

Best case scenario: ¬† Short C wave that holds 618 support in the S&P at 2063 and rallies over the top of the B at 2078 to form an upward 3…there’s a gap down in the futures at this moment (Down 9.25 S&P E-Mini), so the setup for a downward C or 3 is forming…Bulls need 2063 at 618 to hold and rally to prevent any further damage here..

Worst case scenario: ¬†Full blown 1-2-3 down on a much larger gap down that wipes out both 2068 and 2063..1-2-3 down would target as low as 2040-2042 or 1.618 X W1 to the downside, or as low as 2019-2022 at the full C wave length…a gap below 2063 would setup this move.

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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