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Technical analysis: S&P 500, Nasdaq 100, Russell 2000, DAX 40, FTSE 100, ASX 200 [Video]

Elliott Wave analysis indices: S&P 500, NASDAQ 100, RUSSELL 2000, DAX 40, FTSE 100, ASX 200.

The sharp move lower in Indices is view as Wave ii). It appears the Elliott wave ii) is completed and would be confirmed with the first impulse wave up off the low, which is currently in play.

Elliott Wave analysis of indices

  1. S&P 500 (SPX)

    • Wave ii) low appears to be in place.
    • Awaiting confirmation through a completed upward impulse wave.
  2. Nasdaq 100 (NDX)

    • Wave ii) low seems established.
    • Awaiting confirmation with a completed impulse wave moving up from the low.
    • Currently long on 20,300 CTLP.
  3. Russell 2000 (RUT) - IWM ETF

    • Waiting to confirm the Wave (ii) low.
  4. DAX 40 (DAX)

    • Potential for another low.
    • May also move up in alignment with the S&P 500.
  5. FTSE 100 (UKX/UK100)

    • Requires 8,300 as support to confirm a bullish move.
  6. S&P/ASX 200 (XJO)

    • Considering that Wave ii) low is in place, though there is no substantial evidence.
    • An impulse wave higher is needed or support at 8,230.

Financial events today

  • US unemployment claims

  • Flash Manufacturing PMI

    • U.S., EUR, GBP

  • Flash services PMI

    • U.S., EUR, GBP

Video chapters

Comprehensive Elliott Wave analysis for major indices: 

00:00 SP 500 (SPX).

06:48 NASDAQ 100 (NDX).

09:36 Russell 2000 (RUT) IWM ETF.

10:17 DAX 40 (DAX).

15:23 FTSE 100 UKX (UK100).

16:53 S&P/ASX 200 (XJO).

21:28 End.

Author

Peter Mathers

Peter Mathers

TradingLounge

Peter Mathers started actively trading in 1982. He began his career at Hoei and Shoin, a Japanese futures trading company.

More from Peter Mathers
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