WaveTrack International

Elliott Wave Financial Price Forecasting

S&P 500 January 28 ’13

by m.tamosauskas| January 28, 2013 | 4 Comments

[No immediate change] The S&P continued higher and is now approaching higher resistance towards 1506.77-1507.29. Basis a comparison with the Dow Jones that is expected to trade a little bit higher, it is possible that this area will be reached, but any reversal from current levels would already confirm the completion of the entire Nov.’12 advance from 1343.35. Subsequent declines in the weeks ahead are measured to ultimate downside at 1326.61-16.35.  This forecast is revised only by acceleration above 1506.77-07.29.

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

Comments

  • steve

    looks like the spx exceeded your upside target today. What is the new forecast now? More bullishness ahead.

  • Hi Steve,

    No, we haven’t changed our primary count. The upside targets were exceeded just by 2+/- points, so its still valid turning point. We are waiting for a reversal signature, hopefully during the next 48 hours.

    Martynas

  • steve

    what is your new forecast now given today’s upside orgy?

  • Hi Steve,

    will update charts latter today, GL!

    Martynas

About WTI

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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