TradingLounge's stock market report, the focus is on several major indices, including the S&P 500, NASDAQ 100, Russell 2000, DAX 40, FTSE 100, and ASX 200, with an emphasis on Elliott Wave analysis. The analysis suggests that they are currently in the process of finding the low point of Elliott Wave 5 of (A), specifically for the NDX, SP500, and DAX indices.
Most of these indices are exhibiting similar intraday patterns and are expected to potentially decline further in the short term, though a medium-term low is anticipated. This anticipated decline is attributed in part to the momentum of larger US tech stocks.
While the report does not recommend short trades, it does indicate that the prevailing sentiment leans towards the short side for both indices and individual stocks.
Video chapters
00:00 SP 500 (SPX)
06:27 NASDAQ (NDX)
11:35 Russell 2000 (RUT)
14:30 DAX 40 (DAX)
17:12 FTSE 100 UKX (UK100)
21:01 ASX 200 (XJO)
24:51 End
As with any investment opportunity there is a risk of making losses on investments that Trading Lounge expresses opinions on.
Historical results are no guarantee of future returns. Some investments are inherently riskier than others. At worst, you could lose your entire investment. TradingLounge™ uses a range of technical analysis tools, software and basic fundamental analysis as well as economic forecasts aimed at minimizing the potential for loss.
The advice we provide through our TradingLounge™ websites and our TradingLounge™ Membership has been prepared without considering your objectives, financial situation or needs. Reliance on such advice, information or data is at your own risk. The decision to trade and the method of trading is for you alone to decide. This information is of a general nature only, so you should, before acting upon any of the information or advice provided by us, consider the appropriateness of the advice considering your own objectives, financial situation or needs. Therefore, you should consult your financial advisor or accountant to determine whether trading in securities and derivatives products is appropriate for you considering your financial circumstances.
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