WaveTrack International

Elliott Wave Financial Price Forecasting

S&P 500 is never going down again, do you believe it?

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

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The substructure of the advance from the April low of 1536.03 clearly indicates only a three price-swing rally to current levels. This shifts the probability in favour of this count which has been promoted to ‘preferential’ status. It suggests an expanding flat counter-trend sequence is unfolding from the mid-April high of 1597.35, with wave ‘A’ ending at 1536.03 and wave ‘B’ at current levels. A reversal from here would thus initiate wave ‘C’ declines in the next several weeks ahead, with ultimate downside measured to 1482.87. Anacceleration above 1636.83 will revise this forecast – in this case, refer to count #2.

 (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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