Elliott Wave Analysis: Major Indices -

Elliott Wave Analysis: Major Indices

Oct 16, 2024Jeremy ParkinsonFinance, No picture0

Image Source: PexelsElliott 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 (SPX)
22:05 Nasdaq (NDX)
28:20 Russell 2000 (RUT) IWM ETF
29:39 DAX 40 (DAX)
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:Elliott Wave Technical Analysis: JSW Steel
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