Elliott Wave forecast: Bullish trends ahead for global indices including S&P 500, Nasdaq 100 [Video]
|Elliott Wave analysis: Major indices
We maintain a bullish outlook on the following indices: S&P 500, NASDAQ 100, Russell 2000, DAX 40, FTSE 100, and ASX 200. Two Elliott Wave counts point to upward movements. While alternative wave counts at the Primary degree for the S&P 500 and Bitcoin are considered, they are not critical at this time. Collaboration will help us determine the best path forward.
S&P 500 (SPX)
- Action: Long position initiated at 5,850.
- Pattern: Observing a Classic Trading Levels Pattern (CTLP) at this level.
NASDAQ 100 (NDX)
- Action: Long position initiated at 20,300.
- Pattern: CTLP in formation.
Russell 2000 (RUT)/IWM ETF
- Current Wave: Anticipating a Wave (ii) retracement.
- Outlook: Expecting higher price levels following the retracement.
DAX 40 (DAX)
- Current Wave: Wave (iv) appears to have completed.
- Action: Setting up a long trade at 19,500 with CTLP confirmation.
FTSE 100 (UKX /UK100)
- Action: Long position initiated at 8,300 and adding positions at 8,350.
S&P/ASX 200 (XJO)
- Next Target: Aiming for a long position at 8,400.
Key financial events today
-
United States:
- Core Retail Sales m/m
- Retail Sales m/m
- Unemployment Claims
- Philly Fed Manufacturing Index
-
Australia:
- Unemployment Rate
-
European Union:
- Monetary Policy Statement
Video chapters
Comprehensive Elliott Wave analysis for major indices:
00:00 SP 500 (SPX).
22:05 NASDAQ (NDX).
28:20 Russell 2000 (RUT) IWM ETF.
29:39 DAX 40 (DAX).
34:03 FTSE 100 UKX (UK100).
39:34 S&P/ASX 200 (XJO).
46:52 End.
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