S&P Elliott Wave Noon Forecast 12.10.15 – We got 4 up now here’s the 5 down ..truncate?

Dec10spx5

This is Elliott Wave Noon Update For 12.10.15 of the S&P 500 based on the 30 day 1 minute chart…12:30-3PM..4 up now 5 down in progress.

Best case scenario: The two best 5th wave scenarios are either 618 X w1 + W3 or truncation…618 X w1 + W3 is usually precise, in this case would break 2038 and test 2030-2033 which is the length of an A = C…but this 5th wave could truncate and hold 2038..if it truncates it would hold that 2038 level and reverse violently over 2063 or the intraday high and setup a C wave or truncated 5th wave bottom.

Worst case scenario:  The spike up we saw was a 2 up before 3 down…2038..than 2019 would be taken out and the full C wave flat or zigzag would test as low as 1994-2000…we got a spike up that looks likely to be a 382 4 up.

Where I’m leaning:  [ms-protect-content id=”61,117″] I’m thinking there’s a good chance we truncate or form a mild 5 and reverse so bottom fishing..not full on long..would be good idea in the 2030-2033 range or if there’s a truncation and push above 2063 [/ms-protect-content]

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