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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