WaveTrack International

Elliott Wave Financial Price Forecasting

S&P 500

by m.tamosauskas| December 21, 2012 | No Comments

The strong sell off from last Thursday to Friday has increased the probability that the S&P already topped out at 1448.00, slightly short of original upside targets to 1451.43. Although there is the possibility – due to increased short-term volatility – that the S&P could stage a finalising advance and nudge about last week’s high prior to a reversal, the odds are strongly in favour of an immediate downside continuation that would signal the entire counter-trend rally from 1343.35 has completed at 1448.00. Next interim downside objectives then measure towards 1354.40 during the next weeks, ultimate objectives remain at 1299.78-1293.79. This forecast is negated only above 1464.02.

 (Become an EW-Compass report subscriber and see how this pattern continues to develop and what’s coming up in the larger time-series).

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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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