What I’m expecting 11AM – 1PM: S&P 500 $SPX Elliott Wave Midday Forecast

Nov16SPX11am

What I’m expecting from S&P 500 from 11AM – 1PM based on the 30 day 1 minute chart and the action from 9:30-11AM.

Best case scenario:  European markets are up, but are about to close at 11:30AM…may or may not be good, but past 11:30AM if the SPX can take out 2034, we may see that 2042-2045 upward .382 W4 target.  We need that target to hit really bad to prevent any further damage to the downside in this ferocious downward 3 we’ve been seeing.  By hitting those targets the bottom would essentially be in in a corrective Wave 2 retracing the Aug-Early November rally.

Worst case scenario:  Break below 2025 and intraday low at 2019.39 in a failure to break into an intraday Wave 3. If we fail here and break below 2019.39 in S&P 500, there might be a continuation of a Wave 3 back to as low as 2000-2006 before the actual Wave 4 bounce.

What I’m expecting: In the next 30 minutes we break a new intraday high in DOW and S&P, and get that upward 3, it could hit that 2042-2045 and fading in a 5th wave would be ok.  But a break below 2019.39 I may bottom fish in the 2000-2006 1.618 area, as that would be full length of a Wave 3.

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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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