Stock Market Report S&P 500, NASDAQ 100, RUSSELL 2000, DAX 40, FTSE 100, ASX 200. Elliott Wave Technical Analysis
Elliott Wave Update: Jobless Claims Thursday. Current Elliott wave ii) correction incomplete but anticipated to finish soon. Concerns of SP500 and Nasdaq being dragged down, risking Wave ii) correction to 5000 and 18,000 respectively. Waiting for potential long trade setup late Thursday or Friday morning. Overall bullish trend intact; aiming to buy new highs to capture upside potential indicated by big tech stocks. Patience is key.
Video Chapters
00:00 SP 500 (SPX)
07:04 NASDAQ (NDX)
11:44 Russell 2000 (RUT)
14:26 DAX 40 (DAX)
17:35 FTSE 100 UKX (UK100)
18:33 ASX 200 (XJO)
21:55 End
Analyst Peter Mathers TradingLounge™ Australian Financial Services Licence - AFSL 317817
Source: tradinglounge com
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Editors’ Picks
EUR/USD extends recovery toward 1.0800 as USD retreats ahead of Fed
EUR/USD continues to push higher toward 1.0800 on Thursday. The pair finds support from a broad US Dollar retreat, as traders unwind their Trump win-inspired USD longs ahead of the Federal Reserve's highly-anticipated policy announcements.
GBP/USD rebounds above 1.2950 after BoE policy announcements
GBP/USD trades in positive territory above 1.2950 on Thursday. The Bank of England (BoE) lowered the policy rate by 25 basis points as expected but the upward revision to inflation projections helped the pair edge higher. Market focus now shifts to the Fed's policy decisions.
USD/JPY stays defensive below 154.50 amid Japanese verbal warnings
USD/JPY is extending its retreat below 154.50 early Thursday, following a massive surge on Wednesday. A US Dollar pullback and speculations that Japanese authorities might intervene to prop up the Yen undermine the pair. The focus now shifts to the Fed decision for further impetus.
Editors’ Picks
EUR/USD extends recovery toward 1.0800 as USD retreats ahead of Fed
EUR/USD continues to push higher toward 1.0800 on Thursday. The pair finds support from a broad US Dollar retreat, as traders unwind their Trump win-inspired USD longs ahead of the Federal Reserve's highly-anticipated policy announcements.
GBP/USD rebounds above 1.2950 after BoE policy announcements
GBP/USD trades in positive territory above 1.2950 on Thursday. The Bank of England (BoE) lowered the policy rate by 25 basis points as expected but the upward revision to inflation projections helped the pair edge higher. Market focus now shifts to the Fed's policy decisions.
Gold nears $2,700 as Fed’s announcement looms
Gold recovers following Wednesday's sharp decline and trades above $2,680. The benchmark 10-year US Treasury bond yield edges lower after Trump-inspired upsurge, allowing XAU/USD to hold its ground ahead of the Fed policy decisions.
Federal Reserve expected to deliver 25 bps interest-rate cut, shrugging off Trump victory
The Federal Reserve is widely expected to lower the policy rate after Donald Trump won the US presidential election. Fed Chairman Powell’s remarks could provide important clues about the rate outlook.
Outlook for the markets under Trump 2.0
On November 5, the United States held presidential elections. Republican and former president Donald Trump won the elections surprisingly clearly. The Electoral College, which in fact elects the president, will meet on December 17, while the inauguration is scheduled for January 20, 2025.
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