$SPX S&P Afternoon Forecast 2:30-4PM – Ran into W2 zigzag

Nov17spx3

Afternoon 2:30-4PM Forecast for 11.17.15 on the 2 day 1 minute chart. Best case/worst case.

Best case scenario:  We broke .786 by one point (2065 was 786) and we’ve bottomed, but ran into a corrective wave 2 in the past hour.  Right now we ABC at the length of A = C, so C wave would hold 2047.5 and rally over 2061 into the close. If this scenario develops into the close and breaks 2061, it would setup a Wave 3 to as high as  2120-2125 in 1.618 golden ratio move. That would be 1.618 X the 45 point Wave 1 move rom 2020 to 2066 today.

Worst case scenario:  The random out nowhere parabolic drop below both 2047.5 at A = C and 2033 or 1.618 down.  If we break down into 1.618 down there would be no bottom and we’d have to start all over again holding support and breaking 786 again.  Right now it looks like it’s correcting the entire move from 2020 to 2065 in a Wave 2 corrective wave.

Where I’m leaning:  Right now since I’m writing this article I hope it held that 2047.5 support (just checked..it did and bounced so far)…I’m rooting for the 2061 break now to setup a big upward 3 of 3 into the end of the week.

About the author

The secret of many top analysts and traders...(in fact mutual fund managers, hedge fund traders and even a couple seat owners of the NYSE are subscribers!) Wavegenius.com. Ted "Wavegenius" Aguhob since 2001 has profited on 80%-88% of his trades EVERY year since the inception of his blogs and websites..Ted has made and incredible amount of calls during this period including: 1778% gain in 03-04 from swing trades, The 2009 bottom lows of S&P DOW and NASDAQ literally right on the number, the massive 3rd waves when SPX made it's run from just over 1000 to 2400+ that we're seeing now (these calls were written by Ernie Varitimos on articles on the FRONT PAGE of TheStreet.com, Yahoo Finance and MSN Money for a week), The exact all time low of Apple and Facebook and the huge move that followed on Youtube videos, and he's had Top 20 Charts of stocks that 90%-100% of the time were accurate...at the time the calls were considered insane to most and hundreds of his charts have been like that..until they actually happened...as a result Ted with a tiny audience made almost $177,000 in 2013 as one of the top earning blogs in the country. His following is beyond fanatical, and has been hidden away for many years with many websites and competitors refusing to partner with him..mostly because he'd walk in there and take away many subscribers and traffic from them...

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