WaveTrack International

Elliott Wave Financial Price Forecasting

S&P 500

by m.tamosauskas| December 19, 2012 | No Comments

The S&P staged one additional high last week towards 1438.59 but then quickly reversed. This level can be measured by internal fib-price ratios of the advance from 1343.35, as it precisely hit the fib. 38.2% extension of wave ‘A’ of the secondary zig zag from 1385.43. This corroborates the assumption that the S&P might already have topped out although it fell short of original upside targets at 1451.43. Expect the index to continue downwards during the next few months with ultimate targets remaining unchanged towards 1299.78-93.79. This forecast is revised above 1438.59, but negated only above 1464.02.

 (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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