WaveTrack International

Elliott Wave Financial Price Forecasting

S&P 500 mid-term trend remains bullish

by m.tamosauskas| June 14, 2013 | 4 Comments


Despite some sharp price movements, the overall pattern that started in early October ’11 remains incomplete. Cycle wave C’s advance that began the concluding sequence of the larger zig zag from the Oct.’11 low of 1074.77 is shown unfolding into a five wave expanding-impulse sequence, subdividing into primary degree, 1-2-3-4-5. Wave 1 completed at 1292.66 and was followed by wave 2 declines to 1158.67. Subsequent wave 3 advances are in progress, subdividing into a visible (1)-(2)-(3)-(4)-(5) sequence of intermediate degree. Ultimate upside objectives for cycle wave C are projected to 2239.02 by a fib. 161.8% extension of the initial 1-2-1 sequence (1074.77-1422.38).


  • shushumiga

    a lot of creativity to see an impulse…..
    but this is good, that you have imagination:)

  • It’s the most logical wave sequence to reach our ultimate upside targets, we have introduced this idea now more than 2 years before, so far so good 😉 Check out the details in a short video update: http://www.youtube.com/watch?v=CKUrcTFB3jE
    And thanks for comming here!

    • shushumiga

      I agree on cycles, more upside, the secular bear is not over etc…
      but look at your waves i and iii from (3) where are the impulses? The mess in the middle of wave i? The choppy move in the middle of wave iii? 1-2 1-2 1-2 seriously?

      This is forcing wave counting to fit your
      view. The whole move since 2009 is a corrective mess from a-b-c and w-x-y. Where is the problem the market moving higher and label it as a corrective structure?

      The future will tell who is right – your iv
      and v of (3) will play out(not because this is an impulse) an than your (4) will be much deeper than you expect if I am right.

      • We are trying to avoid preconception, count revisions are
        made almost after every major move. But the main reason to maintain the current
        count is that many global stock indices from 2009 (2008) lows initially unfolded
        into a five wave expanding impulse patterns. Maybe the S&P 500 is not the
        best example but we use it as our benchmark. Moreover, we have a huge
        convergence of price-fib-ratios towards upside targets, which often acts as a magnet
        for prices. You are right, time will tell, so far this count is working but if
        the markets will start to tell different story we will adopt and will change
        the current primary count.

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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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