By late 2010/early 2011, the S&P will closely approach – or exceed – the April 2010 high. As a result of increasing valuation, I expect economic conditions to improve for the rest of this year
Aliso Viejo, CA (Vocus) September 28, 2010
NEoWave Institute’s Glenn Neely, internationally regarded as an Elliott Wave innovator and creator of NEoWave technology, believes the S&P’s near future is surprisingly positive with a probable gain of 75-100 points.
“The S&P will continue to move up or sideways for the next two-to-three months. The market has transitioned into a General Predictability phase, based on NEoWave principles, so I’m now able to map behavior for the rest of this year,” Neely says. This bullish market behavior may take many by surprise, he explains, given the market typically declines in October. “By late 2010/early 2011, the S&P will closely approach – or exceed – the April 2010 high. As a result of increasing valuation, I expect economic conditions to improve for the rest of this year,” Neely says.
Neely built this short-term bullish forecast on his recent, on-target S&P predictions in August and September 2010. As shown on the recently released NEoWave chart, he forecasted a sell-off, quickly followed by a steep uptrend. The dashed-red line on the chart below presents Neely’s recent forecasts (the solid-blue line shows actual market action).
NEoWave Recent Forecasts vs S&P Market Performance
Dashed red line: Glenn Neely’s published wave forecasts
Dark blue line: actual market performance
Key dates in chart:
Aug 11: Neely publishes forecast of expected downtrend (from wave-b to wave-c)
Sept 8: Neely publishes forecast of uptrend expected to continue for 2-3 months (starting at the end of large wave-B)
Sept. 24: Neely gives more detailed forecast by projecting price behavior for the next 2-3 months (represented by waves 2 & 3)
About Glenn Neely and NEoWave Institute
Glenn Neely, who is internationally regarded as the premier Elliott Wave analyst, founded the Elliott Wave Institute in 1983. In 1990, Neely published his advanced Wave analysis process in his now-classic book, Mastering Elliott Wave. In 2000, Neely changed the name of his research and advisory firm to NEoWave Institute to differentiate his scientific Wave analysis technology from orthodox, subjective Elliott Wave analysis, which is frequently nebulous, inaccurate, and constantly fluid.
What is Elliott Wave? In the early 1930s, Ralph Nelson Elliott presented his theory of market behavior, which quantifies each stage of an economic cycle into specific patterns of mass psychology. Glenn Neely has devoted more than 25 years to mastering and advancing the concepts of Wave theory. Neely refined Elliott Wave theory to make it objective, practical, and consistently accurate, producing his now-famous NEoWave technology. This precise, step-by-step assessment of market structure leads to low-risk, high-profit investing and trading. Orthodox Elliott Wave, devoid of such technology and rules, typically leaves the analyst with ambiguous interpretations, seriously flawed results, and dual-directional forecasts.
Today, decades after R.N. Elliott penned his original theory, countless investors and traders trust Neely’s revolutionary, step-by-step NEoWave approach to market analysis. Devotees of NEoWave Institute and Glenn Neely are reaping the rewards of low-risk, high-profit investing. Learn more about Glenn Neely and NEoWave Institute at http://www.NEoWave.com.