Elliott Wave Technical Analysis and Trading Strategies for Major Indices
S&P 500, Nasdaq 100, Russell 2000, DAX 40, FTSE 100, and ASX 200
Overview
Prepare for strategic trading opportunities as we delve into the Elliott Wave technical analysis of major global indices. Thursday is expected to present a minor Wave Four corrective pattern, setting the stage for the upward trend to resume on Friday. The ongoing November/December uptrend remains robust, with new highs anticipated across the markets.Elliott Wave Analysis and Forecasts
S&P 500 (SPX): Wave (v) of iii) of 5 of (5) of 3)
The S&P 500 is advancing through Wave (v) of iii) of 5 of (5) of 3. This progression suggests a strong bullish impulse, indicating potential for further upside. Traders should watch for completion of this wave to capitalize on momentum.
Nasdaq 100 (NDX): Wave (iii) of iii) of 5 of (5) of 3)
The Nasdaq 100 is currently in Wave (iii) of iii) of 5 of (5) of 3, often the most powerful wave in Elliott Wave theory. Expect accelerated growth, making it an opportune time for momentum trading strategies.
Russell 2000 (RUT) IWM ETF: Wave iv) of 5 of (3)
For the Russell 2000, we’re observing Wave iv) of 5 of (3). This corrective wave offers a potential entry point before the final upward impulse in Wave v) commences.
DAX 40 (DAX): Wave (v) of iii) of 3
The DAX 40 is completing Wave (v) of iii) of 3, indicating the end of a significant impulse phase. Prepare for a possible short-term correction before the next bullish movement unfolds.
FTSE 100 (UKX): Wave 4 Correction
The FTSE 100 is undergoing a Wave 4 correction. This consolidation phase can present buying opportunities ahead of the impending Wave 5 rally.
S&P/ASX 200 (XJO): Wave v of (v) of iii) of 5
Australia’s ASX 200 is moving through Wave v of (v) of iii) of 5, suggesting sustained upward momentum. This wave structure supports continued bullish strategies.
Trading Strategies
Conclusion
The Elliott Wave patterns across these major indices indicate that the current uptrend is not yet complete, with new highs on the horizon. By aligning your trading strategies with these technical insights, you can optimize your positions for the anticipated market movements.Video Length: 00:35:39More By This Author:Unlocking ASX Trading Success: V300AEQ ETF Units – Wednesday, Dec. 4
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