Elliott Wave analysis: S&P 500, Nasdaq 100, DAX 40, FTSE 100 and ASX200 [Video]

The Federal Reserve lowered interest rates by a quarter point, triggering a sharp market drop. Elliott Wave analysis now hinges on whether this initial decline forms a three-wave correction or a five-wave impulsive move. If it’s impulsive, we’d expect a corrective rally followed by another five-wave decline, confirming that Primary Wave 4) is underway.

Elliott wave outlook:

• S&P 500 (SPX): Wave v) of 3 of (A) of 4)
• NASDAQ 100 (NDX): Wave v) of 3 of (A) of 4)
• DAX 40 (DAX): Potentially completed Primary Wave 3) top
• FTSE 100 (UK100): Wave 4) in progress
• S&P/ASX 200 (XJO): Wave v) of 3 of (A)

Upcoming data

• Friday: U.S. PCE inflation and personal income reports are due.

Video chapters

Comprehensive Elliott Wave analysis for major indices: 

00:00 SP 500 (SPX)
13:17 NASDAQ 100 (NDX)
13:58 DAX 40 (DAX)
17:05 FTSE 100 UKX (UK100)
18:26 S&P/ASX 200 (XJO)