This is the Noon Elliott Wave Forecast For 11.25.15 – Wave 1, Wave 2, Wave 3 scenario in play on the 2 day 1 minute chart..best case scenario is a break of 2094 setting up a wave 3 to as high as 2125..
Best case scenario: SPX breaks above 2094 this afternoon and breaks into a Wave 3…based on the 2 day 1 minute chart, target would be 2125 drawing from the first wave from 2070 to 2094. That simple break above 1.00 would set it up, but 2125 would be the intial target, and based on the 10 day chart 2200 and on the 3 month chart 2400.
Worst case scenario intraday: ABC flat back to 2086 before turning up into a Wave 3 over 2094..we’re coming off a zigzag W2 in the past couple days which is essentially the fuel for the 3rd wave move..I’m leaning towards the 1-2-3 pattern to develop today and roar higher into the close.
Where I’m leaning: Looks like a pretty obvious setup for a 3rd wave at this point, so staying long into the move or buying triple ETF’s is the way to go in the NASDAQ S&P and DOW.