This is the noon Elliott Wave Forecast For 12.22.15 of the S&P 500…appears 5 waves down may have completed already before 618 reversal.
Best case scenario: S&P 500 may have seen 5 waves down complete with the 5th wave truncating yesterday afternoon and the gap up 618 reversal is happening now…618 would be at least 2045 to the upside and if it’s a true bottom 787 would break at 2052 and setup another 3rd wave move.
Worst case scenario: Resistance at 2045 or 618 reversal target followed by a downside break of 2007 into 1987-1990 or 618 X W1 + W3 in a true 5th wave.
Where I’m leaning:
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