S&P Elliott Wave Morning Update 10:30-12PM – Reached C length but looks like a downward 3

Dec11spx

This is the morning Elliott Wave Forecast For 12.11.15 on the S&P 500 30 day 1 min chart…we’re past C wave length and more likely going to form the full 3…

Best case scenario: ¬†Touching 2019-2021 or the low of the A wave would be enough to bottom and we reverse to positiev by the close..A = C however was 2033, next support is 2019 and lowest 1.618 move 1994. ¬† So far 2019 has held here but the gap down was pretty ferocious so I wouldn’t bet 100% for a bottom here..

Worst case scenario: ¬†2 up before 3 down target would be 1994..that’s 62 X 1.618 = 100 minus 2094 to 1994 in a 1.618 X W1 downward 3…I would prefer to see 1994 first instead of fishing above 2021.

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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