WaveTrack International

Elliott Wave Financial Price Forecasting

S&P 500 breaks above the April ’12 high – what’s next?

by m.tamosauskas| August 21, 2012 | No Comments

Back in the beginning of August we changed our preferential count on S&P 500. The main reason was correlation analysis between different stock indices, especially Eurostoxx 50 – at that time, this index required one additional advance to complete its countertrend pattern unfolding from the June ‘12 low.  Usually, it is difficult to predict one positively correlated market going down whilst the other trades in the opposite direction – combined with comparisons to other asset classes, a compelling case for a continuation higher was evident.

You may download a piece of our Compass report published in 2nd of August here.

(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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