Stock market analysis: Elliott Wave predicts potential decline in major indices [Video]
|TradingLounge's stock market report, the focus is on several major indices, including the S&P 500, NASDAQ 100, Russell 2000, DAX 40, FTSE 100, and ASX 200, with an emphasis on Elliott Wave analysis. The analysis suggests that they are currently in the process of finding the low point of Elliott Wave 5 of (A), specifically for the NDX, SP500, and DAX indices.
Most of these indices are exhibiting similar intraday patterns and are expected to potentially decline further in the short term, though a medium-term low is anticipated. This anticipated decline is attributed in part to the momentum of larger US tech stocks.
While the report does not recommend short trades, it does indicate that the prevailing sentiment leans towards the short side for both indices and individual stocks.
Video chapters
00:00 SP 500 (SPX)
06:27 NASDAQ (NDX)
11:35 Russell 2000 (RUT)
14:30 DAX 40 (DAX)
17:12 FTSE 100 UKX (UK100)
21:01 ASX 200 (XJO)
24:51 End
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