S&P $SPX Elliott Wave Forecast 11.19.15 – Expecting full 1.618 Wave 3 Move + Targets

Nov19fore

This is the Elliott Wave Forecast For 11.19.15 for the S&P 500 on the 4 day 1 minute line chart.  Best case scenario: follow through upward 3 to the 1.618 golden ratio length of 2123-2125.

Best case scenario:  First wave was 2019 to 2067, W2 was in zigzag formation from 2067 to 2047, and the break above the 1.00 retracement at 2067 was the start of a Wave 3 formation.  Highest target if it travels full length of a 3rd wave that’s 1.618 X the 48 point first wave in a golden ratio is 2123-2125.  I’d expect maybe a slight dip at the open that’s bought right away and by late Friday I expect to see that 2123-2125 level hit.

Worst case scenario:  There really is no worst case scenario..but it’s not guaranteed we hit the full 1.618..most of the time a 3rd wave will hit 1.618, and I don’t expect it to be any different with this particular formation..especially with the power.

Where I’m leaning:  Full 1.618 golden ratio W3 to the 2123-2125 target..might form in a slower grinding like formation in the next couple days, but that’s the typical Wave 3 target which is another 35-40 points from here in the S&P 500.

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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