Stock Market Report S&P 500, NASDAQ 100, RUSSELL 2000, DAX 40, FTSE 100, ASX 200. Elliott Wave Technical Analysis.
In our ongoing Elliott Wave analysis of key indices, including the S&P 500 and NASDAQ 100, it appears that the markets have not yet bottomed out. I plan to carefully watch for signs of support formation later on Thursday, which could signify reaching the lows. It's crucial to then observe whether the trading on Friday closes higher. Should this pattern not emerge, we might have to brace for a more extensive corrective phase. Consequently, I'll avoid making any hasty bearish moves and will instead monitor the market's performance towards the end of the week before making any trading decisions.
Video chapters:
00:00 SP 500 (SPX)
03:12 NASDAQ (NDX)
10:00 Russell 2000 (RUT)
12:42 DAX 40 (DAX)
16:33 FTSE 100 UKX (UK100)
18:48 S&P/ASX 200 (XJO)
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