$SPX $ES_F Elliott Wave Forecast 12.01.15 – ABC flat complete into Wave 3?

Dec01spx

This is the Elliott Wave Forecast For 12.01.15 9:30-12PM on the 30 day 1 minute chart of the S&P 500..1-2-3 setup to 2200 is the best case potential scenario.

Best case scenario:  The first wave was the move from the 2019 low to 2097, and we’re in a sideways ABC flat that’s about to breakout…we’re gapping up about 10, and if S&P can break 2093, it would setup a pure upward 3..highest target could be as high as 2200+ if it travels 1.618 X the 76 point first wave.  The setup is A wave from 2097 to 2070, B wave to 2093 and C wave ended yesterday at 2080..best case.

Worst case: Another fade like we’ve been seeing over the past 7 trading days to test 2080..if it fades and breaks 2080 the full C wave would retest at least 2070 to the downside.

Where I’m leaning:  If the gap doesn’t fade between 9:30-10AM and we’re near or over 2093 by 10AM, I’d expect a continuation of a Wave 3 pattern break…over the course of the next 7-10 trading days  potentially a move that intended 2200 target.   There’s a good chance of that with the 1-2-3 pattern breaking after completed an ABC flat.

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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