WaveTrack International

Elliott Wave Financial Price Forecasting

Nasdaq Composite

by m.tamosauskas| October 18, 2012 | No Comments

The focus on this chart is minute wave 4’s text-book counter-trend decline between 3196.90 to 3037.20. This was expected to unfold into a single zig zag pattern towards 3036.80 derived by extending minuette wave [a] a fib. 38.2% ratio. This ratio can be used when wave B of a zig zag pattern retraces 50% or more of the preceding wave A. The exact price level that completed zig zag pattern was 3037.20, just a 0.40 point shy of our original price level! Use ratio and proportion measurements to get more advanced analysis of Elliott Wave Theory.

(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: Nasdaq Composite

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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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