S&P Elliott Wave Update 3.15.16 – Ran into gap down 2 before 3 at best

Mar15spx

Best case scenario S&P: ┬áBest case scenario is the gap down move today is a 2 before 3, and we end up rallying back to the green by the close, setting up a W3. ┬áDip buying is all we’ve seen since the recent bottom so I wouldn’t be surprised to see that move.

Worst case scenario S&P: Worst case is 2005 intraday support breaking and we see a test of at least 618 support at around 1992 on the 10 day 1 minute chart..that would be an ABC move to correct the entire rally from 1970 to 2023 that we’ve seen recently.

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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