S&P 500, SPY, NASDAQ 100, QQQ, DAX 40, FTSE 100, ASX200 Elliott Wave Analysis.
In the latest Elliott Wave analysis, the confluence of Amazon (AMZN) earnings, ADP employment figures, and the Federal Open Market Committee (FOMC) announcement has provided critical signals for the SP500 and NASDAQ. These events have effectively marked the conclusion of the corrective pattern Wave (4), signaling a "risk-on" environment for indices, ETFs, and a broad range of stocks. This shift is a pivotal moment for traders, indicating that market sentiment is favoring more aggressive, bullish positions.
As we approach Thursday's trading session, traders should be aware of the potential retracement dip associated with Wave ii), which serves as a prime setup for long trades. This dip offers an excellent entry point for those looking to capitalize on the anticipated upward movement later in the day and into Friday morning. The retracement is expected to be brief, providing a strategic opportunity for traders to position themselves ahead of the next bullish wave.
In addition to the U.S. indices, the European and Australian markets are also exhibiting a "risk-on" sentiment. Traders are encouraged to utilize the trading levels and abc Elliott corrective patterns to identify optimal trade setups. These patterns provide a structured framework for understanding market movements and can be particularly useful in navigating the current market conditions.
The alignment of fundamental data with Elliott Wave technical analysis underscores the importance of a comprehensive trading strategy. With key support and resistance levels clearly defined, and the market showing strong bullish tendencies, traders have a clear roadmap for potential gains. This week's analysis highlights the importance of staying informed and adaptable in response to market catalysts.
In summary, the combination of AMZN earnings, ADP figures, and the FOMC announcement provides a robust foundation for bullish trading strategies. The anticipated retracement in Wave ii) offers an entry point for long positions, with further upside potential as the week progresses. This analysis is crucial for traders looking to optimize their strategies in the current market environment.
Video chapters
00:00 - SP 500 (SPX), SPY ETF.
02:38 - NASDAQ (NDX), QQQ ETF.
05:13 - Russell 2000 (RUT) IWM ETF.
06:47 - DAX 40 (DAX).
08:47 - FTSE 100 UKX (UK100).
12:33 - S&P/ASX 200 (XJO).
19:54 - End.
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