WaveTrack International

Elliott Wave Financial Price Forecasting

by m.tamosauskas| November 22, 2012 | No Comments

The S&P responded positively from last Friday’s lows of 1343.35 confirming a counter-trend advance has begun as wave ‘X’. Basis the price development so far, it would seem that a deep retracement will ultimately unfold – the last days’ attempt to the fib. 38.2% resistance level at 1388.00+/- whilst unfolding from 1343.35 into a sub-hourly five wave impulse pattern increases this probability so that an eventual zig zag upward rally ends towards the fib. 61.8% area at 1416.69+/-. Naturally, a shorter-term retracement should unfold first.

Category: S&P 500

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WaveTrack International is a financial price forecasting company dedicated to the Elliott Wave principle and work of the R.N. Elliott. Clients include Investment Banks, Pension Funds, Total/Absolute-Return/Hedge Funds, Sovereign Wealth Funds, Corporate and Market-Making/Trading institutions and informed individuals -- & just about anyone who is affected by directional price change.

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