$SPX $ES_F Elliott Wave Forecast 9:30-12PM – Flat open after huge move

Dec02spx

This is the Elliott Wave Forecast For 12.02.15 9:30-12PM of the S&P 500 based on the 30 day 1 min chart..pre-market futures are flat, but that doesn’t mean we won’t get a follow through 3…

Best case scenario:  Based on the flat open…if we don’t fade like a rock here in a 5th wave, the best case scenario is that we’ve entered a slow grinding W3..that would be the best thing possible here…the first wave was really fast so the W3 could end up being a slow grinder to the intended 2200 target..the setup is there right now for that very move, but it may happen in a non crazy and tepid move up..

Worst case scenario:  The non follow through of yesterday’s move this morning is a 5th wave and the S&P gets slammed down below 2090 to test 2070 in a corrective Wave 2…no grinder, just a 5th wave and a failed third wave attempt.

Where I’m leaning:  The grinder scenario is very much the likely scenario, but the first indication at the open is what I want to see…do they open and pop up or slam it in a corrective 2…first 15-30 mins will show it.

 

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