WaveTrack International

Elliott Wave Financial Price Forecasting

by m.tamosauskas| November 7, 2012 | No Comments

With this week’s break below the 1403.28 low, the S&P has triggered additional downside potential to 1389.44 which has been already achieved with yesterday’s low of 1388.14. A reversal from there is necessary to validate the continuation of the larger upswing that began from the June low of 1266.74. Failure to respond from the 1388.14 level followed by an acceleration below would otherwise confirm that the S&P already completed the larger upswing at 1464.02 with a 5th wave truncation. This would have bearish implications for the next months.

(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: 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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