Elliott Wave Analysis: Major Indices

Person Holding White and Blue BoxImage Source: Elliott Wave Analysis: Major IndicesWe 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.
  • Video Length: 00:46:52Video Chapters
    Comprehensive Elliott Wave analysis for major indices: 
    00:00 SP 500 ()
    22:05 Nasdaq ()
    28:20 Russell 2000 (RUT) ETF
    29:39 DAX 40 ()
    34:03 FTSE 100 UKX (UK100)
    39:34 S&P/ASX 200 (XJO)
    46:52 EndAnalyst Peter Mathers TradingLounge
    Source: tradinglounge com  More By This Author:

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