Elliott Wave Analysis: SP500,NASDAQ 100, DAX 40, FTSE 100, ASX200. Insights & Strategies
Stock Market Report S&P 500, NASDAQ 100, RUSSELL 2000, DAX 40, FTSE 100, ASX 200. Elliott Wave Technical Analysis
Update on Elliott Wave Analysis: A favorable Core PPI bodes well for the USD, leading to higher yields, lower bonds, and a stronger dollar which impacts various stocks either positively or negatively. Despite this, indices and stocks are on an upward trend in the primary movement, and I plan to stick with this direction. The key lies in managing the downturns, which is the focus of this video. It details when and how to purchase during a dip with the initial Elliott wave impulse wave upward. For continued optimism, we need the US indices to show positive momentum in Friday morning's session. Without it, according to Elliott wave terminology, we might be entering a more significant correction phase, Wave 4 of (3), a position the DAX 40 is nearing.
Video Chapters
00:00 SP 500 (SPX)
09:07 NASDAQ (NDX)
11:46 Russell 2000 (RUT)
13:05 DAX 40 (DAX)
17:04 FTSE 100 UKX (UK100)
20:09 ASX 200 (XJO)
27:21 End
Analyst Peter Mathers TradingLounge™ Australian Financial Services Licence - AFSL 317817
Source: tradinglounge com
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Editors’ Picks
EUR/USD edges lower toward 1.0700 post-US PCE
EUR/USD stays under modest bearish pressure but manages to hold above 1.0700 in the American session on Friday. The US Dollar (USD) gathers strength against its rivals after the stronger-than-forecast PCE inflation data, not allowing the pair to gain traction.
GBP/USD retreats to 1.2500 on renewed USD strength
GBP/USD lost its traction and turned negative on the day near 1.2500. Following the stronger-than-expected PCE inflation readings from the US, the USD stays resilient and makes it difficult for the pair to gather recovery momentum.
Japanese Yen trades just shy of 157.00 versus the USD
The Japanese Yen weakens across the board after BoJ announced its policy decision. A shortlived spike in the Yen may be testament to an attempt by the Japanese authorities to intervene. US PCE Price Index shows higher-than-expected inflation but does little to impact USD/JPY which almost touches 157.00.
Editors’ Picks
EUR/USD edges lower toward 1.0700 post-US PCE
EUR/USD stays under modest bearish pressure but manages to hold above 1.0700 in the American session on Friday. The US Dollar (USD) gathers strength against its rivals after the stronger-than-forecast PCE inflation data, not allowing the pair to gain traction.
GBP/USD retreats to 1.2500 on renewed USD strength
GBP/USD lost its traction and turned negative on the day near 1.2500. Following the stronger-than-expected PCE inflation readings from the US, the USD stays resilient and makes it difficult for the pair to gather recovery momentum.
Gold struggles to hold above $2,350 following US inflation
Gold turned south and declined toward $2,340, erasing a large portion of its daily gains, as the USD benefited from PCE inflation data. The benchmark 10-year US yield, however, stays in negative territory and helps XAU/USD limit its losses.
Bitcoin Weekly Forecast: BTC’s next breakout could propel it to $80,000 Premium
Bitcoin’s recent price consolidation could be nearing its end as technical indicators and on-chain metrics suggest a potential upward breakout. However, this move would not be straightforward and could punish impatient investors.
Week ahead – Hawkish risk as Fed and NFP on tap, Eurozone data eyed too
Fed meets on Wednesday as US inflation stays elevated. Will Friday’s jobs report bring relief or more angst for the markets? Eurozone flash GDP and CPI numbers in focus for the Euro.
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