$SPX S&P 500 Morning Forecast 9-11AM – Full picture of bottom

Nov19spx2

This is the morning elliott wave forecast for the S&P 500 on the 30 day 1 minute chart…this is the full look of the bottom and the next level that needs to be broken.

Best case scenario:  Zigzag from 2117 completed…A wave was 2117 to 2070, B wave was 2058 to 2087, and the C wave 2087 to 2019..the rally off the lows broke 786 of the C wave and at the open today, 1.00 of the entire C wave…next level that would 100% confirm the bottom is 2097, or 786 of the entire zigzag.  If that breaks today there’s potential for a year end rally or into next year to as high as 2400-2420 if 1.618 X the first wave off the August-Oct bottom. (both hit the same level)

Worst case scenario: failure at the top of the B at 2087 and a quick W2 drop into the open…that would setup a retest of 2050 at worst…

What I’m expecting:  After such a huge rally yesterday, the futures were up big pre-market but began to descend at around 8AM in a zigzag..the pop at the open will happen, but at a smaller scale..I do however believe they will buy that dip and attempt the 2087 level onto 2097.

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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