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This is the Noon Elliott Wave Forecast For 12.09.15 of the S&P 500 based on the 30 day 1 min chart…this chart looks seriously bad and shortable at this very moment..

Best case scenario:  All that it is is a zigzag that drops to and holds 2019-2025 to the downside and reverse into a Wave 3..would need to break at least 2075 to the upside after forming a full C wave..that would be a big ABC flat and this complicated C wave would end and reverse.

Worst case scenario:  Looking like the chart is about to completely collapse at this very break of 2042 and it’s downward 3 city here…the question is not IF but how MUCH the market is about to drop..full downward 3 would clear 2019 and touch 1994…that would be 1.618..

Where I’m leaning:

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