WaveTrack International

Elliott Wave Financial Price Forecasting

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).

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Comments

2 Responses to “S&P 500 February 07 ’13”

  1. Steve
    February 7th, 2013 @ 11:06 pm

    Marty, what is your time frame for the pullback into the 1300s? Also, will we see 1600 before 1300s? Momentum to the upside is still quite strong.

  2. Steve
    February 19th, 2013 @ 10:30 pm

    It’s time for another new forecast since the max upside target was breached convincingly today.

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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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