S&P $SPX Elliott Wave Forecast For 11.18.15 – W1-W2-W3 to upside 1.618?

Nov18spx

This is the Elliott Wave Forecast For Nov 18, 2015 S&P 500 2 day 1 minute chart. Potential scenario 1-2-3 to as high as 2125-2130 if the best case formation forms tomorrow.

Best case scenario: First wave from 2019 to 2067 was the W1 after a bottom, the drop from 2067 to 2047 late in the day was a zigzag wave 2, and any gap up we need to break at least 2057.5 or .786 of the C wave down.  If we break that level at the open it would setup a 3rd wave..highest target could be as high as 2125-2130 if it rallies 1.618 X the 68 point first wave in a golden ratio 1.618 Wave 3.   That would W1 W2 into a Wave 3.

Worst case scenario:  We gap down to test 2037.5..that would be downward 3 from the intraday high today and a test of 618 support..we need to hold that level to help protect the W1 low of 2019.  Worst WORST case is a complete failure and breakdown below 2019 setting up a downward 3 to 2000.

Where I’m leaning:  The futures aren’t gapping down at this point at 9:44PM ET and are slightly positive..if they pop 4-6 points it would take out that 2057.5 level and setup a big rally day into a Wave 3.

 

Or become a member! Membership has it's benefits...

About the author

The secret of many top analysts and traders...(in fact mutual fund managers, hedge fund traders and even a couple seat owners of the NYSE are subscribers!) Wavegenius.com. Ted "Wavegenius" Aguhob since 2001 has profited on 80%-88% of his trades EVERY year since the inception of his blogs and websites..Ted has made and incredible amount of calls during this period including: 1778% gain in 03-04 from swing trades, The 2009 bottom lows of S&P DOW and NASDAQ literally right on the number, the massive 3rd waves when SPX made it's run from just over 1000 to 2400+ that we're seeing now (these calls were written by Ernie Varitimos on articles on the FRONT PAGE of TheStreet.com, Yahoo Finance and MSN Money for a week), The exact all time low of Apple and Facebook and the huge move that followed on Youtube videos, and he's had Top 20 Charts of stocks that 90%-100% of the time were accurate...at the time the calls were considered insane to most and hundreds of his charts have been like that..until they actually happened...as a result Ted with a tiny audience made almost $177,000 in 2013 as one of the top earning blogs in the country. His following is beyond fanatical, and has been hidden away for many years with many websites and competitors refusing to partner with him..mostly because he'd walk in there and take away many subscribers and traffic from them...

Related Articles

Chat with Ted now! I'm online!
  • Unfortunately, we could not get stock quotes this time.
Subscribe to Blog via Email

Enter your email address to subscribe to this blog and receive notifications of new posts by email.