WaveTrack International

Elliott Wave Financial Price Forecasting

S&P 500 Forecast May 2013 – Daily Chart

by m.tamosauskas| May 17, 2013 | No Comments

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Here we are providing the bigger picture which supports our ‘inflation-pop’ scenario (for more details you can always can check the more detailed explanation in our 2013 forecast, a video cut has been published in youtube: VIDEO ).

The main difference in this updated version of our daily chart is the restricted downside amplitude of the shorter-term downswing labelled as minor wave iv. Previous daily updates had shown downside potential to 1481.62, but the more recent development of the Nov.’12 advance from 1343.35 suggests a more limited sell-off to idealised targets at the 1535.00+/- from current levels or even 1550.00+/- should the S&P continue towards 1690.00+/- during the next weeks. The general frame, however, remains consistent with previous daily updates advocating an upswing during the next several months with ultimate targets measured to 2239.02. A decline below 1343.35 would revise this forecast.

 (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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