S&P 500 Technical Analysis Elliott Wave [Video]

Peter Mathers TradingLounge

Technical Analysis Elliott Wave SP 500 [SPX] NASDAQ [NDX] Amazon AMZN, Alphabet GOOG, Apple AAPL,Square SQ, Facebook FB, Tesla TSLA.

S&P500 Technical Analysis: The top of Wave i is in place and Wave ii also seems to be in place, so the long trade set up is moving into place

US Stocks AMZN, GOOG, AAPL,SQ, FB,TSLA Stocks are trending bullish

S&P 500 Elliott Wave: Wave ii of (iii) of iii)
NASDAQ Elliott Wave: Wave (ii) in play

SP500 TradingLevels: In the slightly bigger picture the 4300 Minor level 3 which is also
the top of Minor group1 is the important price point as support or resistance and this will take a few more trading sessions to establish as support or resistance.

SP500 Trading Strategy: Long above 4400 SP500 and 15,000 NASDAQ 100 See video, but long trade probably late Thursday arvo or Friday morning, being mindful of tradinglounge's Bullish Weekly Cycle.

Peter Mathers TradingLounge

Author

Peter Mathers

TradingLounge

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

EUR/USD hits two-day highs near 1.1820

EUR/USD picks up pace and reaches two-day tops around 1.1820 at the end of the week. The pair’s move higher comes on the back of renewed weakness in the US Dollar amid growing talk that the Fed could deliver an interest rate cut as early as March. On the docket, the flash US Consumer Sentiment improves to 57.3 in February.

GBP/USD reclaims 1.3600 and above

GBP/USD reverses two straight days of losses, surpassing the key 1.3600 yardstick on Friday. Cable’s rebound comes as the Greenback slips away from two-week highs in response to some profit-taking mood and speculation of Fed rate cuts. In addition, hawkish comments from the BoE’s Pill are also collaborating with the quid’s improvement.

Gold climbs further, focus is back to 45,000

Gold regains upside traction and surpasses the $4,900 mark per troy ounce at the end of the week, shifting its attention to the critical $5,000 region. The move reflects a shift in risk sentiment, driving flows back towards traditional safe haven assets and supporting the yellow metal.

Crypto Today: Bitcoin, Ethereum, XRP rebound amid risk-off, $2.6 billion liquidation wave

Bitcoin edges up above $65,000 at the time of writing on Friday, as dust from the recent macro-triggered sell-off settles. The leading altcoin, Ethereum, hovers above $1,900, but resistance at $2,000 caps the upside. Meanwhile, Ripple has recorded the largest intraday jump among the three assets, up over 10% to $1.35.

Three scenarios for Japanese Yen ahead of snap election

The latest polls point to a dominant win for the ruling bloc at the upcoming Japanese snap election. The larger Sanae Takaichi’s mandate, the more investors fear faster implementation of tax cuts and spending plans.

XRP rally extends as modest ETF inflows support recovery

Ripple is accelerating its recovery, trading above $1.36 at the time of writing on Friday, as investors adjust their positions following a turbulent week in the broader crypto market. The remittance token is up over 21% from its intraday low of $1.12.