$SPX $ES_F S&P Noon Forecast 11-1PM – 1.618 target to be fullfilled

Nov23spx

This is the S&P 500 Noon Elliott Wave Forecast For 11.23.15..on the 30 day 1 min charts…closing in on the 1.618 target: 2120-2125.

Best case scenario:  The dip this morning was bought after a spike and fade and reversed near the Friday’s peak level at 1.00…we didn’t break it but I expect it to happen this afternoon and setup a continuation of a W3…got my eyes on the full 1.618 target at 2120-2125, and NASDAQ is starting to reach the 1.618 level..this is still quite a distance to go, and for S&P E-mini traders, buying here would be good idea considering how much further there is to the upside..

Worst case:  Short Wave 3 under 1.618..5th wave truncation at 2100 and drop in a Wave 2 to test 2080…it’s been a gradual move to the upside in a grinding wave 3, so I don’t expect Wave 2 here.

Where I’m leaning:  buying on the 1.00 breakout of S&P is a good idea in anticipation of the full upward 3 2120-2125 target…2117 is the key 100% breakout level from here, so the push for my target would help create a much bigger and much longer term 1-2-3 off the August low to 2400+.  Not a crazy target since the first wave was so large..

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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