WaveTrack International

Elliott Wave Financial Price Forecasting

Reversal is imminent!

by m.tamosauskas| April 3, 2013 | No Comments

The S&P already has achieved min. upside targets to 1572.63 and the short-term ending-diagonal scenario shown in the last EW-Compass issue would suggest a reversal from current levels to begin a sustained counter-trend decline in the months ahead.  The most recent rally could extend higher towards 1579.93-88.41 during the next trading sessions but its not necessary. This area is measured by a fib. 61.8% extension of the 1343.35-1485.01 range and a fib-correlative 61.8% ratio of the 1485.00-1563.62 rally added to the mid-March low. Thus, although the S&P is at a general juncture point, the reversal area is hard to determine as the fib-price-ratio measurements allow for a completion of the entire Nov.’12 upswing at current or plus one per cent levels. A break below 1538.57 would in any case confirm the larger counter-trend decline is underway.

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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