Elliott Wave analysis: S&P 500, Nasdaq 100 and top tier stocks [Video]

Elliott Wave Forecast Team ElliottWave-Forecast.com

Elliott Wave analysis indices

SP500 and NASDAQ Minor Elliott Wave 4 appears to be completed with the help of stocks like APPL, NFLX and NVDA. The smaller markets RUT, DAX 40 FTSE and ASX200 are also still very close to the counts on the SP500, which is leading higher over the Nasdaq finding the 20,000 as a strong resistance.

As mentioned last week we are heading into an unfriendly trading environment, choppy sidewards price action with the overall trend edging higher and this is still the case. No trading strategy or trend trade recommendations only smaller positions for scalping.

Video chapters:

00:00 SP 500 (SPX)
08:17 NASDAQ (NDX)
11:54 Russell 2000 (RUT) IWM ETF
13:03 DAX 40 (DAX)
16:13 FTSE 100 UKX (UK100)
17:23 S&P/ASX 200 (XJO)

Author

Elliott Wave Forecast Team

ElliottWave-Forecast.com

GBP/USD clings to moderate gains near 1.3400

EUR/USD holds steady above 1.1400 ahead of US data

Gold struggles to build on Tuesday's gains, retreats toward $4,000

Bitcoin, Ethereum, and Ripple show tentative recovery as key technical levels hold

Bitcoin, Ethereum and Ripple trade with a mild positive bias on Wednesday as sentiment improves across the cryptocurrency market. BTC is testing its 50-day Exponential Moving Average, ETH has broken above a key resistance level at $1,800, while XRP has found support around a key level.

BoC set to keep interest rates steady for sixth consecutive meeting

The Bank of Canada is widely expected to keep its policy rate unchanged at 2.25% on Wednesday. The central bank will announce its policy decision at 13:45 GM. This would be the sixth consecutive event with the central bank keeping its hand steady. The BoC left its policy rate unchanged at 2.25% last month, as widely anticipated.

-0.4%: Why the biggest CPI drop since 2020 couldn't buy back a single cut

The June CPI fell 0.4% on the month, the largest one-month decline since April 2020, dragging the annual rate to 3.5% from May's 4.2% and snapping a three-month acceleration streak. Core prices went nowhere, flat on the month and down to 2.6% YoY, both under consensus.