Featuring Elliott Wave Technical Analysis Elliott Wave Analysis Indices: SP500 and Nasdaq 100S&P 500 (SPX) and Nasdaq 100 (NDX)
These indices show distinct corrective patterns. Today, we’ll explore two alternative corrective counts: one indicating the low is already in place, and another suggesting the corrective pattern could double in size. It’s crucial to exercise caution, especially for long positions. We’ll discuss optimal entry points and stop placements to manage risks effectively.
Russell 2000 (RUT)
Current Status: The Russell 2000 is completing Wave (iv) and is expected to move higher. We will maintain our long positions.
European Markets: DAX 40 and FTSE 100Current Status: The European markets have yet to complete intermediate Wave (4). The patterns remain choppy, making it challenging to provide trade recommendations at this time.
ASX 200
Medium-Term Outlook: The ASX 200 is anticipated to trade above and below the 8000 level in a series of Wave 4s, gradually edging higher. We will stay long in this market.Video Length: 00:36:38Video Chapters
00:00 SP 500 (SPX), SPY ETF
04:15 Nasdaq (NDX), QQQ ETF
10:00 Russell 2000 (RUT) IWM ETF
12:30 DAX 40 (DAX)
19:32 FTSE 100 UKX (UK100)
21:09 S&P/ASX 200 (XJO)
32:16 EndAnalyst Peter Mathers TradingLounge
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