WaveTrack International

Elliott Wave Financial Price Forecasting

by m.tamosauskas| December 10, 2012 | No Comments

Although the S&P has been underperforming during the last days when compared with the European Eurostoxx 50, the advance from the recent 1385.43 low is still projected towards ultimate upside at 1451.43 during the next weeks. This is because the 1385.43 advance is interpreted as the finalising leg within a larger three price-swing sequence in progress from the November low of 1343.35. Once 1451.43 is achieved, a reversal would signify the continuation of the larger downtrend that began from the mid-October high of 1464.02. Ultimate downside targets measure to the 1300.00+/- area in the months ahead. This forecast is negated above 1464.02. Shorter-term, a break below 1385.43 would revise the additional upside momentum to 1451.43.

 (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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