Elliott Wave analysis: S&P 500 and top tier stocks [Video]
|Are you interested in the latest Stock Market Summary for S&P 500, NASDAQ 100, RUSSELL 2000, DAX 40, FTSE 100, and ASX 200? Let's dive into the Elliott Wave Analysis to gain valuable insights.
Summary: We may have reached the lows for most indices, but to validate this potential trend reversal, we need to observe a larger impulse wave moving upwards with significant volume, indicating long trade opportunities. It's crucial to be cautious of the 61.8% Fibonacci retracement levels, which could trigger a market downturn. To mitigate risks, consider long trades only when this level acts as strong support.
Elliott Wave count:
- SP 500: The c) of 4 wave appears to be complete, but we should await confirmation above the 61.8% retracement level before making any moves.
- Nasdaq 100: The c) of 4 wave is likely complete, but confirmation is still needed.
- Russell 2000: The b) of 4 wave is currently in progress.
- DAX 40: The market is experiencing a rally in wave b) of 4, with the current level at 16,200.
- FTSE 100: Wave c) of 2 could potentially reach 7630, but be cautious as it might fail and turn into Wave b) of 2.
- ASX 200: The wave (c) of ii) might have completed its move. However, be prepared for the possibility of a decline to 7380 - 7400, which could result in Wave (b) of ii).
Stay informed with the latest Elliott Wave Analysis for these indices to make well-informed investment decisions. Remember to consider the risk factors and confirmations before entering any trades. Happy investing!
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.