WaveTrack International

Elliott Wave Financial Price Forecasting

S&P 500 February 07 ’13

by m.tamosauskas| February 7, 2013 | 2 Comments

Continuation to the upside has necessitated extending original target levels of 1506.77-07.29 to max. upside at 1527.93 by a fib. 38.2% ratio of the 1343.35-1474.51 range. A lower target towards 1516.71 that is already being approached can be projected by a fib. 61.8% extension of the initial Nov.-Dec.’12 advance of 1343.35 to 1448.00. Thus, a reversal from current (or slightly higher) levels would still confirm the conclusion of the entire Nov.’12 advance and initiate declines in the weeks ahead to finalise the larger counter-trend correction that began from the mid-October high of 1464.02. Ultimate downside to be achieved remains towards 1326.61-16.35.

 (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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