[Chart] $SPX Visual Elliott Wave Chart – Intraday reversal/786 breakout

Apr01spx

This is the Noon Elliott Wave Update For S&P 4.01.16…zigzag and 786 reversal.

Best case scenario: 2065 is cleared again and we form an upward 3 over 2070 by the close..this would occur after an ABC zigzag and C wave dip in the morning on the jobs number.

Worst case scenario; Failure at 2065 and a test of 618 support at 2055 in a fade at the close..that would be W-1-w2-w3 after the ABC zigzag..

Where I’m leaning [ms-protect-content id=”61,117,1559″] After the zigzag and reversal there’s a really good shot at 2070 or higher on a 1-2-3 pattern into the close..the rally has also been strong in a big spike so the momentum should sustain. [/ms-protect-content]

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