$SPX $ES_F Forecast For 12.02.15 – Official Late Day Break out = 2200 by Jan?

Dec02spx

This is the Elliott Wave Forecast Of the S&P 500 based on the 30 day 1 minute chart..Potential target 2200+ based on the late day 1.00 breakout today at the close.

Best case scenario: Started very wild today with a gap up that sustained into exactly 10AM..but the big quick fade occured and the W3 scenario started to fade with it..but the market fought, faded, fought, faded and by the close the bears couldn’t stop the momentum and we ended up closing above 2097 or 1.00 of the entire first wave…this is a 80% trade setup for a W3, and if it ends up traveling 1.618 X W1, target would be 2200-2205 in a golden ratio Wave 3.

Worst case scenario:  The move to 2097 was just a 5 and not a W3..we’d find resistance at 2105-2108 and drop back to retest the previous 4 at 2070..but the extended ABC W2 that took over 7 trading days complete has a Wave 2 appearance..so..

Where I’m leaning:  Heavily towards the full W3 to 2200 because we broke 786 of the entire November correction and can easily take out the S&P 500 all time highs as soon as this week.

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."

Related Articles

Chat with Ted now! I'm online!
  • SPX 2,343.98 -1.98 -0.08%
  • Apple Inc. 140.64 -0.28 -0.20%
  • PCLN 1,753.11 +4.78 0.27%
  • TQQQ 84.78 +0.46 0.55%
  • UPRO 93.89 -0.19 -0.20%
  • Facebook, Inc. 140.34 +0.81 0.58%
  • AMZN 845.61 -1.77 -0.21%
  • NFLX 142.02 +0.18 0.13%
  • GOOGL 835.14 -4.51 -0.54%
  • ACIA 56.69 +0.68 1.21%
  • TWLO 29.19 +0.14 0.48%
  • Alibaba Group Holding Limited 108.04 -0.21 -0.19%
  • NUGT 9.21 -0.12 -1.29%
  • IBB 290.06 +1.37 0.47%
  • CMG 414.02 -0.86 -0.21%
  • SBUX 56.81 +0.96 1.72%
  • TSLA 263.16 +8.38 3.29%
  • Microsoft Corporation 64.98 +0.11 0.17%
  • BIDU 168.26 -1.35 -0.80%
  • PNRA 249.48 +3.00 1.22%
  • BWLD 148.25 +0.20 0.14%