Elliott Wave analysis: S&P500 and top tier stocks [Video]

Peter Mathers TradingLounge

Stock Market Report S&P 500 - NASDAQ 100 - RUSSELL 2000 - DAX 40 - FTSE 100 - ASX 200. Elliott Wave Analysis

Summary: Quadruple witching 15 September four major derivatives contracts expire simultaneously.

Bullish bias develops further in leading stocks and US sectors. The UK markets have broken out of a larger Triangle pattern. This breakout could indicate a shift in market dynamics, potentially favoring bullish trends. Elliott Wave analysts will closely monitor this development to gauge its sustainability and potential impact on trading strategies.

Crafting effective trading strategies

To navigate the current market corrections effectively, traders are advised to consider the following strategies:

a. Smaller Positions on the Long Side: Given the prevailing bullish bias, consider smaller positions when entering long trades. This approach can help manage risk while capitalizing on potential upward movements.
b. Alignment with Leading Tech Stocks: As mentioned earlier, the markets are expected to continue edging higher in line with leading tech stocks. Align your trading strategies with this trend to maximize profit potential.

Video chapters

00:00 SP 500 (SPX).
10:58 US Sectors.
16:55 NASDAQ (NDX).
20:36 Russell 2000 (RUT).
22:23 DAX 40 (DAX).
26:05 FTSE 100 UKX (UK100).
27:57 ASX 200 (XJO).

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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