WaveTrack International

Elliott Wave Financial Price Forecasting

Dax 30

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

Cycle wave A ended its advance at 7441.82 and the counter-trend decline as wave B is shown unfolding into an expanding flat pattern labeled A-B-C in primary degree that completed at 4973.92 in September ‘11. Since that low, the Xetra Dax started to advance as cycle wave C. From an Elliott Wave perspective, the count from the bottom depicts a step-like series of 1’s and 2’s. Primary wave 1 finalised at 6430.60 in October ’11. A countertrend decline completed primary wave 2 in November ’11 at 5366.50.

The advance from the low of November ’11 at 5366.50 to the March ’12 high of 7194.33 represents the completion of intermediate wave (1) and this is currently being balanced by a counter-trend retracement decline as intermediate wave (2) – it is still in progress. This decline is unfolding into a single zig zag pattern, labeled a.-b.-c. in minor degree. Minor wave a. unfolded into a five wave expanding-impulse pattern that was completed in June ’12 at 5914.43. Minor wave b. is currently unfolding into a double zig zag pattern and is quickly approaching its upside targets towards 7102.40-28.81. Once completed the final down-swing as minor wave c. is expected to begin with ultimate downside targets towards 5487.99. This is expected to complete before year-end 2012.

 

(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: Dax 30
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