WaveTrack International

Elliott Wave Financial Price Forecasting

S&P 500

by m.tamosauskas| November 15, 2012 | No Comments

The S&P’s protracted decline during the last several weeks has confirmed the completion of the June upswing at the 18th October high of 1464.02 as a truncated 5th wave. This means that a counter-trend sequence to the entire 1266.74-1464.02 advance is underway which suggests a continued decline during the next couple of months. Latest: short-term interim downside targets measured to 1373.03-67.01 have already been achieved – a reversal from here will trigger a temporary counter-trend rally into idealised upside at 1414.70+/- but could do more. This forecast is negated 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).

 

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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