$SPX $ES_F Elliott Wave Forecast For 12.04.15 – Zigzag/Flat W2 in progress



This is the Elliott Wave Forecast Of S&P 500 for 12.04.15 – Zigzag/ABC Flat in progress..how low do we go before reversal?

Best case scenario:  Best case is that we’re in either a flat or zigzag…there would be a gap down tomorrow that either drops and holds 2019 or the A wave support level in a flat and reverses over 2060 to setup a W3…that would be 2 before 3 before a long extended upward move to as high as 2350-2400 in a full 1.618 move..

Worst case scenario: The correction in the C wave breaks A wave support and forms a full zigzag..it would test 1995-2000 before reversing into an upward 3…that sounds bad considering that’s 40 points away, but if you can handle it, the reversal would come quick after testing that support level.

Where I’m leaning: Zigzag or flat scenario in W2 does have bit more downside to go here, but in both cases we end up reversing into an upward 3…tolerance for pain is the play here..can you handle watching zigzag support hold in at S&P 2000 or not..I’m still holding positions, and I think I can myself.

About the Author

CEO Ted Aguhob, Master Elliottician and Technical Analyst, Day And Swing Trader, Website Designer And Marketer, Artist, Producer and Musician has provided content to gemxwave.com, wavegenius.com and masterofcharts.com for over 14 years. The biggest breakthrough as a blogger came in 2013 when Wavegenius.com produced a net profit of over $177,000 and became one of the highest earning blogs in the entire country. Many of his biggest and most amazing calls appeared on major financial websites like Thestreet.com, Yahoo Finance and MSN Money, was a radio personality on Washington DC Radio, and has a following in the tens of thousands for many years. Ted is known for his charisma, vision, creativity and better yet.."genius."