Stock Market SP 500, NASDAQ 100 NDX, Russell 2000 RUT. Dow Jones Industrial (DJI) Elliott Wave Technical Analysis and Trading Strategies.
US Markets News Today: OPEC+ Agrees to Biggest Oil Production Cut Since Start of Pandemic/ reduce output by 2 million barrels.
Elliott Wave Market Summary: The move upwards is a bear market corrective rally, how far it goes is the question and today I take a look a few possibilities.
Elliott Wave count: Tracking two wave counts.
Day / Trend Trading Strategies: No Strategy.
Video Chapters:
00:00 S&P500.
16:15 NASDAQ 100 (NDX).
16:36 Russell 2000 (RUT).
21:45 Dow Jones (DJI).
24:35 End. Thanks for supporting!
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Editors’ Picks
AUD/USD attracts some buyers above 0.6570 following the Australian GDP data
The AUD/USD pair climbs to 0.6575 during the early Asian trading hours on Wednesday. The pair edges higher following the Australian growth numbers. However, the rebound of the US Dollar and risk-off mood might cap the further upside of AUD/USD.
EUR/USD extends the decline below 1.0800, Eurozone Retail Sales eyed
The EUR/USD pair remains under selling pressure below the 1.0800 psychological mark during the early Asian session on Wednesday. The upbeat Eurozone PMI data for November failed to inspire the Euro amid the persistently weak demand in the Eurozone.
Gold drops to $2,020, eyes on US ADP data
Gold loses momentum during the early Asian session on Wednesday. The renewed US Dollar demand drag the yellow metal lower. Meanwhile, the US Dollar Index rebounds to 104.00. The XAU/USD price trades near $2020, up 0.01% for the day.
Bitcoin-based meme coin ORDI price action wobbles after 1,100% rally
The Bitcoin-based BRC-20 meme coin, which had people confused as being an actual valuable token, is now slowly creeping up to that status. ORDI price rise over the past couple of days has been astonishing, and with BTC driving the price and crossing $44,000, ORDI is also gaining rapidly. But not for long.
Hot service sector might be cold water on swift rate cut hopes
Not only is the services sector still expanding, it picked up steam in November with the ISM coming in at 52.7. With prices still firmly in expansion and employment rising slightly, it suggests that recent expectations for rate cuts might have been pulled too far forward.