Elliott Wave analysis: S&P 500 and top tier stocks [Video]

Peter Mathers TradingLounge

Are you interested in the latest Stock Market Summary for S&P 500, NASDAQ 100, RUSSELL 2000, DAX 40, FTSE 100, and ASX 200? Let's dive into the Elliott Wave Analysis to gain valuable insights.

Summary: We may have reached the lows for most indices, but to validate this potential trend reversal, we need to observe a larger impulse wave moving upwards with significant volume, indicating long trade opportunities. It's crucial to be cautious of the 61.8% Fibonacci retracement levels, which could trigger a market downturn. To mitigate risks, consider long trades only when this level acts as strong support.

Elliott Wave count:

- SP 500: The c) of 4 wave appears to be complete, but we should await confirmation above the 61.8% retracement level before making any moves.
- Nasdaq 100: The c) of 4 wave is likely complete, but confirmation is still needed.
- Russell 2000: The b) of 4 wave is currently in progress.
- DAX 40: The market is experiencing a rally in wave b) of 4, with the current level at 16,200.
- FTSE 100: Wave c) of 2 could potentially reach 7630, but be cautious as it might fail and turn into Wave b) of 2.
- ASX 200: The wave (c) of ii) might have completed its move. However, be prepared for the possibility of a decline to 7380 - 7400, which could result in Wave (b) of ii).

Stay informed with the latest Elliott Wave Analysis for these indices to make well-informed investment decisions. Remember to consider the risk factors and confirmations before entering any trades. Happy investing!

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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