WaveTrack International

Elliott Wave Financial Price Forecasting

Apple – the decline remains intact

by m.tamosauskas| February 22, 2013 | No Comments

In 11th of February a short-term setup was presented:

‘Apple Inc. provides an attractive short-term trading setup: the expected counter-trend rebound from the 435.00 price level is unfolding into a double zig zag pattern labelled [a]-[b]-[c]-[x]-[a]-[b]-[c] in minuette degree. Ratio and proportion analysis again provides an excellent roadmap where this advance is expected to complete. Ultimate upside targets are measured towards 478.81-480.53. This is derived by extending the first zig zag sequence by a fib. 61.8% ratio to 480.53 that closely converges with an equality between waves [a] and [c] of the secondary zig zag pattern. A reversal signature would indicate declines to resume larger downtrend towards 411.87. The behavior of this equity during the next several trading session could be a very useful hint for the broader US equity market, since Apple Inc. is a big component in S&P 500 and Nasdaq Composite indices. Good luck!’

An updated chart as of yesterday’s trading session shows that the decline as an ongoing intermediate wave (4) remains in tact:

It has exceeded slightly our original upside targets with a recorded high at 484.94 but no damage have been done to the overall pattern. The advance from the  low of 435.00 is clearly composed of three price-swings (waves). A reversal has been trigered ( and also on global stock indices). The stop price level for this setup is 501.23 – since 4th wave is not allowed to enter into 1st wave’s territory. Good luck!

 

Category: Apple

India-CNX Nifty 50 – top is in?

by m.tamosauskas| February 21, 2013 | 4 Comments

The current rally from 5853.90 is labelled as the 2nd within an ongoing five wave impulse decline that began from the Jan.’13 high of 6111.80. Short-term upside resistance is measured to 6012.25 basis a fib. 61.8% retracement. A reversal from there would confirm downside continuation during the next several weeks, with unchanged targets towards 4920.50. <b>This forecast is revised above 6111.80.</b>

Learn more about Ratio & Proportion at www.wavetrack.com

(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: India-CNX Nifty 50

Technical Error

by m.tamosauskas| February 20, 2013 | No Comments

Dear Readers,

Due to a technical blog error last week’s blog posts have, unfortunately, not been published. Therefore, we decided to republish the posts this week as we think they are still relevant. Thank you for your patience. GL!

Category: Uncategorized

S&P 500 February 07 ’13

by m.tamosauskas| February 7, 2013 | 2 Comments

Continuation to the upside has necessitated extending original target levels of 1506.77-07.29 to max. upside at 1527.93 by a fib. 38.2% ratio of the 1343.35-1474.51 range. A lower target towards 1516.71 that is already being approached can be projected by a fib. 61.8% extension of the initial Nov.-Dec.’12 advance of 1343.35 to 1448.00. Thus, a reversal from current (or slightly higher) levels would still confirm the conclusion of the entire Nov.’12 advance and initiate declines in the weeks ahead to finalise the larger counter-trend correction that began from the mid-October high of 1464.02. Ultimate downside to be achieved remains towards 1326.61-16.35.

 (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: Uncategorized

S&P 500 January 28 ’13

by m.tamosauskas| January 28, 2013 | 4 Comments

[No immediate change] The S&P continued higher and is now approaching higher resistance towards 1506.77-1507.29. Basis a comparison with the Dow Jones that is expected to trade a little bit higher, it is possible that this area will be reached, but any reversal from current levels would already confirm the completion of the entire Nov.’12 advance from 1343.35. Subsequent declines in the weeks ahead are measured to ultimate downside at 1326.61-16.35.  This forecast is revised only by acceleration above 1506.77-07.29.

 (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

S&P 500 January 23 2013

by m.tamosauskas| January 23, 2013 | 4 Comments

[No immediate change] The S&P is now approaching original upside targets towards 1494.04 – a reversal from here is expected to confirm the completion of the entire Nov.’12 upswing and initiate declines in the weeks ahead. Failure to reverse from current levels could extend the advance to higher resistance at 1506.77-07.29, but the probability (based on momentum studies) clearly favours an immediate sell off. Subsequent downside targets remain at 1326.61-16.35.  This forecast is revised only by acceleration above 1506.77-07.29.

 (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

Ratio and Proportion Study – Gold November ’12 – January ’13

by m.tamosauskas| January 22, 2013 | No Comments

Back in 6th of November ’12 the forecast for gold prices was: ‘Shorter-term, minute wave b’s advance from 1672.50 is itself unfolding into a smaller three wave zig zag, [a]-[b]-[c] (not pictured) with interim upside targets for minuette wave [a] completing towards 1733.35. A temporary retracement decline to follow but holding above 1672.50 as wave [b] but then a final advance for wave [c] to 1766.25-72.30. Once completed, minute wave c is then expected to decline to 1627.49 to finalise the entire corrective decline from 1796.30 ‘

As you can see, the ultimate downside target for minor wave ii. was derived by extending minute wave a by a fib 38.2% ratio – a common ratio metfod used in zig zag patterns.

Early last week gold prices traded lower with a recorded low at 1625.77. A reversal signature from this low gives a lot of creditability to begin new accelerative advance:

 (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: Gold

S&P 500

by m.tamosauskas| January 16, 2013 | No Comments

For the time being, the S&P has not reacted from original upside targets at 1475.40. The high so far was recorded at 1473.31, but unless a reversal signature has occurred, we cannot confirm the completion of the entire upswing from the Nov.’12 low of 1343.35. This would initiate declines in the months ahead, with downside measured to 1326.61-16.35. As mentioned in the former updates, acceleration above 1475.40 would otherwise trigger higher targets to 1494.04 – but basis the European and Asian indices which have already traded into upside resistance and reacted from there, this is assigned a lower probability. This forecast is revised only by acceleration above 1494.04.

 (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

S&P 500

by m.tamosauskas| January 10, 2013 | No Comments

The S&P’s break above 1464.02 has promoted this count to ‘preferential’ status. It implies a bit more upside potential towards idealised targets at 1475.40 prior to a reversal and subsequent downswing to 1326.61-16.35 to finalise a larger expanding flat pattern that began from the 18th October high of 1464.02. An acceleration above 1475.40 would trigger even more upside to 1494.04 but is assigned lower probability due to a comparison with the major European indices that are already approaching original upside targets.

 (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

S&P 500

by m.tamosauskas| January 7, 2013 | No Comments

The S&P’s break above 1464.02 has promoted this count to ‘preferential’ status. It implies a bit more upside potential towards idealised targets at 1475.40 prior to a reversal and subsequent downswing to 1326.61-16.35 to finalise a larger expanding flat pattern that began from the 18th October high of 1464.02. Acceleration above 1475.40 would trigger even more upside to 1494.04 but is assigned lower probability due to a comparison with the major European indices that are already approaching original upside targets. This forecast is revised by acceleration above 1494.04.

 (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
« go back — keep looking »

About WTI

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.

Subscribe to our feed

WTI Links

Search