Image Source: PixabayS&P 500, SPY, Nasdaq 100, QQQ, DAX 40, FTSE, ASX 200 Elliott Wave Analysis for Indices:
– Current Status: These indices are advancing towards higher levels as indicated by the Elliott wave count.
– Trading Strategy: Maintain long positions for the US markets.Euro and Asian Indices:
– Recent Movement: These indices have rebounded from their lows, presenting the initial Elliott Impulse wave upward.
– SPY and QQQ:
– The current impulse wave is still developing.
– Patience is essential as we wait for them to peak and turn lower.
– Plan to trade long on wave B of a Classic Trading Levels Pattern (CTLP).Upcoming Trade Setup:
– Timing: Anticipate the next long trade setup to occur late Thursday or early Friday.
– Action: If Friday closes strongly, hold positions into the following week.Video Length: 00:37:16More By This Author:Elliott Wave Technical Analysis: Caterpillar Inc. – Wednesday, July 3
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