$SPX S&P 500 Noon Forecast 11.19.15 – Expecting test of upside 786 today

Nov19spx3

This is the Noon Elliott Wave Forecast For S&P 500 on the 2 day line chart..best case scenario: clear break of 2087 setting up 2095 or 786 breakout.

Best case scenario:  1-2-3 off the 2019 low into a Wave 3…highest target remains 2120-2125 short term, but on that breakout would setup a much bigger Wave 3 to 2400.  I’d be happy to see 2120-2125 with my current positions with 1.618 X W1 in a golden ratio Wave 3…but intraday there’s a zigzag about to reverse, and I can see the S&P grinding higher past 2092-2095 into the close.

Worst case scenario: 1-2-3 down to test 2074 in a bigger zigzag before reversal..but we’re actually reversing now near the 1.00 retracement level in the past 20 mins.

What I expect:  I’m looking for a clear break of 2087 in the next hour and a spike to test the top of B 1.00 retracement level or the full 786 of the entire zigzag at 2095…2087 again is the top of the B and looks easily achievable.  Don’t be surprised to see another strong healthy looking upward move into the close by S&P.   2120-2125 by mid week next week should occur with little resistance.

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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