See What's Next - SP500 SP400 Nasdaq Russell 2000 [Video]

Peter Mathers TradingLounge

Today we follow our winning SP500 Trade Higher!

I also take a look at the larger Elliott wave count for the SP500, SP400 and the Russell 2000 (RUT)

Elliott Wave SP500 Intraday: Our target last week was 3065 and now that we are here I can see it edging higher into Sub Group2 SG2 3065|3072|3080 this is part of the Trading Levels concept - that is using the price as a Fibonacci ratio, which can be used in any time frame.

Russell 2000 SP500 and SP400 Elliott Wave in the big picture of Intermediate degree I put forward the possibility of a much bigger bullish trend. Tacking the Russell up to 2000. There are many indicators to determine bullish and bearish trends, however, I like simple support and resistance and if the SP400 can manage to develop tested support in 2000 (Major Trading Level TL2) then that would be a long trade set up and an indication of the market moving much higher.

Author

Peter Mathers

TradingLounge

Peter Mathers started actively trading in 1982. He began his career at Hoei and Shoin, a Japanese futures trading company.

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