Stock Market Report S&P 500, NASDAQ 100, RUSSELL 2000, DAX 40, FTSE 100, ASX 200. Elliott Wave Technical Analysis
Elliott Wave Update: Jobless Claims Thursday. Current Elliott wave ii) correction incomplete but anticipated to finish soon. Concerns of SP500 and Nasdaq being dragged down, risking Wave ii) correction to 5000 and 18,000 respectively. Waiting for potential long trade setup late Thursday or Friday morning. Overall bullish trend intact; aiming to buy new highs to capture upside potential indicated by big tech stocks. Patience is key.
Video Chapters
00:00 SP 500 (SPX)
07:04 NASDAQ (NDX)
11:44 Russell 2000 (RUT)
14:26 DAX 40 (DAX)
17:35 FTSE 100 UKX (UK100)
18:33 ASX 200 (XJO)
21:55 End
Analyst Peter Mathers TradingLounge™ Australian Financial Services Licence - AFSL 317817
Source: tradinglounge com
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Editors’ Picks
EUR/USD eases modestly following the release of US data
EUR/USD is showing little reaction to the latest US releases. The pair is still stuck to familiar levels around 1.1650 following the release of upbeat US Retail Sales, up 0.6% in November. Inflation at wholesale levels in the country rose in November, according to the latest Producer Price Index release.
GBP/USD eases from tops, back to 1.3440
GBP/USD trades on a positive note on Wednesday, receding from earlier highs around 1.3460, now hovering in the 1.3440 region. US data failed to make an impression with the Greenback barely advancing following upbeat Retail Sales figures, hotter Producer Price Index.
USD/JPY eases below 159.00 as focus shifts to US Retail Sales, PPI data
USD/JPY retreats from two-year highs at 159.45 amid a moderately softer US Dollar. News of a snap election in Japan has boosted the Takaichi Trade this week. US PPI and Retail Sales data, Fed speakers, and the US Supreme Court's rulings will grab the focus during the US session.
Editors’ Picks
EUR/USD eases modestly following the release of US data
EUR/USD is showing little reaction to the latest US releases. The pair is still stuck to familiar levels around 1.1650 following the release of upbeat US Retail Sales, up 0.6% in November. Inflation at wholesale levels in the country rose in November, according to the latest Producer Price Index release.
GBP/USD eases from tops, back to 1.3440
GBP/USD trades on a positive note on Wednesday, receding from earlier highs around 1.3460, now hovering in the 1.3440 region. US data failed to make an impression with the Greenback barely advancing following upbeat Retail Sales figures, hotter Producer Price Index.
Gold defies gravity near fresh record highs
Gold prices rapidly left behind Tuesday’s pullback and reached record highs near $4,640 on Wednesday, trading nearby in the American session. The yellow metal’s uptrend remains propped up by Fed rate cut bets, lower US Treasury yields across the curve, and absent speculative interest around the buck.
Crypto Today: Bitcoin, Ethereum, XRP hold steady as ETF inflows strengthen short-term bullish outlook
Bitcoin stays above $95,000, supported by growing institutional demand, with ETF inflows reaching $753 million on Tuesday. Ethereum is poised to extend its rebound above the 100-day EMA, supported by improving sentiment.
US economic outlook: January 2026
Jerome Powell's eight-year tenure as Chair of the Federal Reserve is coming to a close during a period of intense pressure on the US central bank and divided views among policymakers about the appropriate stance of monetary policy.
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