S&P 500, NASDAQ 100, Russell 2000, DAX 40, FTSE 100, and ASX 200, all analyzed using Elliott Wave Technical Analysis.
Market insights
Following the Fed’s recent rate cut, we've identified a peak in major indices and many individual stocks, presenting a prime opportunity to enter long positions. For optimal entry prices, consider waiting until late Thursday afternoon or Friday morning, aligning with Bullish Weekly Cycle patterns. Tune into tomorrow’s video for potential setups on long trades at more favorable price levels.
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Video chapters
Elliott Wave analysis
Comprehensive analysis for major indices:
00:00 SP 500 (SPX).
10:11 NASDAQ (NDX).
13:03 Russell 2000 (RUT) IWM ETF.
15:27 DAX 40 (DAX).
19:39 FTSE 100 UKX (UK100).
21:53 S&P/ASX 200 (XJO).
28:41 End.
Federal Funds rate update
The Federal Reserve has slashed interest rates by 50 basis points to 5%, aiming to stimulate economic growth and support businesses. This significant rate drop can lower borrowing costs, boost consumer spending, and enhance investment opportunities. Stay updated on how the Fed’s decision impacts markets and your finances.
Contract month expiration
Most major U.S. equity index futures, including S&P 500 (ES), Nasdaq-100 (NQ), and Dow Jones (YM), expire on the third Friday of their respective contract months. For September, the futures will expire on the third Friday of September.
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Editors’ Picks
AUD/USD: The hunt for the 0.7000 hurdle
AUD/USD quickly left behind Wednesday’s strong pullback and rose markedly past the 0.6900 barrier on Thursday, boosted by news of fresh stimulus in China as well as renewed weakness in the US Dollar.
EUR/USD refocuses its attention to 1.1200 and above
Rising appetite for the risk-associated assets, the offered stance in the Greenback and Chinese stimulus all contributed to the resurgence of the upside momentum in EUR/USD, which managed to retest the 1.1190 zone on Thursday.
Gold holding at higher ground at around $2,670
Gold breaks to new high of $2,673 on Thursday. Falling interest rates globally, intensifying geopolitical conflicts and heightened Fed easing bets are the main factors.
Bitcoin displays bullish signals amid supportive macroeconomic developments and growing institutional demand
Bitcoin (BTC) trades slightly up, around $64,000 on Thursday, following a rejection from the upper consolidation level of $64,700 the previous day. BTC’s price has been consolidating between $62,000 and $64,700 for the past week.
RBA widely expected to keep key interest rate unchanged amid persisting price pressures
The Reserve Bank of Australia is likely to continue bucking the trend adopted by major central banks of the dovish policy pivot, opting to maintain the policy for the seventh consecutive meeting on Tuesday.
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