WaveTrack International

Elliott Wave Financial Price Forecasting


by m.tamosauskas| December 17, 2012 | No Comments

A comparison between U.S. and European indices suggests the mid-November upswing has completed. For the S&P and Dow Jones, this advance represents wave ‘X’ within a larger counter-trend double zig zag decline that began from the October high whilst for the Eurostoxx 50, it ends a 5th wave within the larger impulse advance that began from its June ’12 low. Whilst the S&P and Dow are now expected to decline into a secondary zig zag sequence into a late January low, European indices begin a broader counter-trend decline as a correction to their June impulse advance. Fib-price-ratio measurements project a decline of between -8% to -10%. For the S&P, downside targets from the recent high of 1438.59 measure towards 1299.78-93.79 whilst the Dow Jones measures to 12221.50-069.40. A similar percentage decline for the Eurostoxx 50 will simply retrace levels back towards support of 4th wave of preceding degree. Spain’s IBEX has fulfilled upside targets and is set to join in an overall decline towards downside targets of 7270.20. Asia’s Hang Seng index has extended gains but is closing in on upside targets towards 23195.40 to complete a five wave impulse advance from its June low. Japan’s Nikkei 225 is reaching higher but within fib-price-ratio tolerance to complete a five wave impulse advance from the early October low with targets towards 9791.46.


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.

Subscribe to our feed

WTI Links