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SP500 Elliott Wave Analysis | Bear Market Corrective Rally


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Stock Market SP 500, NASDAQ 100 NDX, Russell 2000 RUT. Dow Jones Industrial (DJI) Elliott Wave Technical Analysis and Trading Strategies.
US Markets News Today:Inflation came in much faster than expected, bad news for the Fed
The Consumer Price Index rose 8.2 percent in the year through September, another stubbornly high result driven by more costly food, rent and other items.
Elliott Wave Market Summary: The sharp move up in the markets is Impulsive, five wave. So let it fade lower for the trade setup
Elliott Wave count:  (c) Wave ii)
Day / Trend Trading Strategies: Looking at trade setups for long trades and short trades.

Video Chapters
00:00 S&P500 
20:50 NASDAQ 100 (NDX)
21:47 Dow Jones (DJI)
23:47 Russell 2000 (RUT) 
25:29 End. Thanks for supporting!

Analyst Peter Mathers TradingLounge™

 

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  • Posts

    • Joshua, where next with this trade, have you closed your position following the continued slide since 13th March?
    • As the banking crisis seems to abate and the price of gold is coming off, AUD/USD is expected to resume its descent from its February highs. We would thus like to short AUD/USD at $0.6665 with a stop-loss at $0.6760 and a downside target at $0.6175.   Axel Rudolph FSTA | Senior Financial Analyst, London | Publication date: Monday 27 March 2023           
    • EUR/USD, EUR/GBP and GBP/USD volatility is on the wane Outlook on EUR/USD, EUR/GBP and GBP/USD likely to calm down following last week’s volatility.  Axel Rudolph FSTA | Senior Financial Analyst, London | Publication date: Monday 27 March 2023  EUR/USD hovers above support EUR/USD’s sharp decline from last week’s $1.0929 high amid worries surrounding Deutsche Bank’s double-digit fall in its share price, leading to flight-to-quality flows into the US dollar, pushed the cross to Friday’s low at $1.0714, to marginally below the 55-day simple moving average (SMA) at $1.0736, before closing above it late last week. On Monday morning the currency pair is trying to remain above the moving average and the March tentative trendline at $1.0742. While this is the case, the mid-February high at $1.0804 may be revisited. Minor resistance above $1.0804 can be spotted between Thursday’s low at $1.0825 and Friday’s intraday high at $1.0837. Where a drop through Friday’s low at $1.0714 to be seen, however, the early March high at $1.0695 would be eyed. Source: IT-Finance.com EUR/GBP’s slide from last week’s £0.8865 high shows no sign of stopping just yet EUR/GBP’s rally to Thursday’s £0.8865 high has been followed by the last few days descent to Friday’s low at £0.8777 as the euro weakened due to the banking crisis surrounding Germany’s largest bank Deutsch Bank. A fall through £0.8777 would likely engage the February low at £0.8755. Resistance can be found at Thursday’s £0.8814 low and also comes in along the 55-day SMA at £0.8834 and at the 15 March high at £0.8843. Source: IT-Finance.com GBP/USD hovers below last week’s high at $1.2343 GBP/USD’s advance stalled at Thursday’s $1.2343 high with it dropping to $1.2191 before stabilising. Provided that this low underpins, the 24 January low and mid-February high at $1.2263 to $1.227 may be revisited, a rise above which would lead to the $1.2343 high seen last week being back in the frame. Only and advance above Thursday’s high at $1.2343 would push the December and January highs at $1.2446 to $1.2448 to the fore. Below Friday’s low at $1.2191 meanders the 55-day SMA at $1.2154 which may act as support, were it to be revisited. Source: IT-Finance.com
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