S&P Morning Elliott Wave Update 2.01.16 – 1-2-3 scenario still in play

[Feb01spx

This is the S&P Elliott Wave Morning Update For 2.01.16 based on the 15 day 1 min chart of S&P.  Looks like a continuation of a 3 if this occurs..

Best case scenario:  W1 was 1810 to 1910 or 100 points, W2 was a flat ABC and W3 would travel 162 points from the low of W2 from 1875 to 2035 in a full 1.618 X W1, W3.  This morning’s gap down was mild and if S&P can break 1937 today and close at the highs it would setup a 3 of 3 formation to as high as that 2035 target..that’s pretty much the only target I have right now…very powerful cup and handle 2 before 3 formation.

Worst case scenario: Failure to hold 1920 intraday and a sudden dive below 1900 to retest 1875 in a 5th wave..alternate scenario is 5 waves up.

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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