WaveTrack International

Elliott Wave Financial Price Forecasting

S&P 500 major resistance level

by m.tamosauskas| March 14, 2014 | No Comments

sp140314

The advance that began from the early Feb.’14 low of 1737.92 unfolded into a five wave expanding-impulse pattern, labelled in minuette degree, with a completion into the recent high of 1883.57. Extending the next advance between waves [i] and [iii] by a fib. 61.8% ratio it depicts the exact high of wave [v] at 1883.57. Precisely to the point! Moreover, there is another hidden golden ratio – extending minor wave i. (1266.74-1475.51) by a fib. 161.8% ratio, upside targets was measured towards 1885.26, less than 2 points to the exact high. Now, it becomes a double convergence and an additional proves S&P 500 has reached a strong resistance level. The following decline began a balancing process of the preceding advance. Become an EW-Compass subscriber and find out the next  fib-price-ratios and there the next major support level is located!

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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