WaveTrack International

Elliott Wave Financial Price Forecasting

S&P 500 – still searching for a top

by m.tamosauskas| March 13, 2013 | No Comments

The S&P is already close to original upside at 1564.10 and the substructure of the advance from 1485.01 suggests one higher high which converges with the 1564.10+/- area but could also extend to max. upside at 1579.93. Seen from the larger perspective, the advance from the Nov.’12 low of 1343.35 is seen as the finalising leg of an ongoing five price-swing sequence that began from the Nov.’12 low of 1343.35. A reversal from 1564.10+/- would initiate counter-trend declines in the weeks ahead, with ultimate downside measured to the fib. 61.8% support at 1423.73.

 (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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