SP500 | NASDAQ | Russell 2000 | Dow Jones: Elliott Wave Trading Strategies
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By tradinglounge · Posted
MARUTI SUZUKI INDIA – MARUTI (1D Chart) Elliott Wave Technical Analysis Function: Counter Trend Lower (Intermediate degree, orange) Mode: Corrective Structure: Impulse, within larger degree Wave A Position: Minute Wave ((ii)) Navy complete Details: Minute Wave ((ii)) looks complete just below 12700-800 zone. Furthermore, Minute Wave ((iii)) Navy seems to be progressing now. Invalidation point: 13680-85 Maruti Suzuki Daily Chart Technical Analysis and potential Elliott Wave Counts: Maruti Suzuki daily chart suggests a major top is in place around 13680-85 zone, registered on August 01, 2024. The stock has dropped through 12040 lows marked as Minute Wave ((i)), followed by a shallow rally towards 12600-700 range, potential Minute Wave ((ii)). Earlier, the stock produced an impulse wave between 6500 and 13680 levels, which is marked as Intermediate Wave (5) Orange complete. Also note Minor Waves 1 through 5 Grey complete, with Wave 5 terminating as a diagonal. With Minute Waves ((i)) and ((ii)) potentially in place around 12040 and 12600-700 respectively; bears would be inclined to come back in control and resume Minute Wave ((iii)) lower through 9500 mark in the medium term. MARUTI SUZUKI INDIA – MARUTI (4H Chart) Elliott Wave Technical Analysis Function: Counter Trend Lower (Intermediate degree, orange) Mode: Corrective Structure: Impulse, within larger degree Wave A Position: Minute Wave ((ii)) Navy complete Details: Minute Wave ((ii)) looks complete just below 12700-800 zone. Furthermore, Minute Wave ((iii)) Navy seems to be progressing now. Alternatively, prices could drift a bit more sideways before Minute Wave ((ii)) terminates. Invalidation point: 13680-85 Maruti Suzuki 4H Chart Technical Analysis and potential Elliott Wave Counts: Maruti Suzuki 4H chart highlights the lower degree waves within Minor Wave 5 Grey. Minute Waves ((i)) through ((v)) Navy complete the ending diagonal minor Wave 5 around 13680 levels before prices reversed sharply lower. Furthermore, Minute Wave ((i)) is now in place around 12040, along with Minute Wave ((ii)) around 12600-700 zone. If the above holds well, Minute Wave ((iii)) is now underway against 13680 high. Conclusion: Maruti Suzuki is potentially progressing within Minute Wave ((iii)) Navy within Minor Wave 1 Grey against 13680 mark. Elliott Wave Analyst: Harsh Japee Source : Tradinglounge.com get trial here! -
By tradinglounge · Posted
TASI Index Elliott Wave Analysis Trading Lounge Day Chart TASI Index Elliott Wave Technical Analysis Function: Counter Trend Mode: Corrective Structure: Gray Wave 2 Position: Orange Wave 3 Direction (Next Higher Degrees): Gray Wave 3 Details: Gray wave 1 completed, gray wave 2 is currently in play and nearing its end. Wave Cancel Invalid Level: 11320.635 The TASI Index Elliott Wave analysis on the day chart highlights a counter trend movement within a corrective phase. The current wave structure being analyzed is gray wave 2, following the completion of gray wave 1. According to the analysis, gray wave 2 is in progress and is expected to end soon, indicating that the corrective phase is approaching its conclusion. The mode of this analysis is corrective, signifying that the market is experiencing a pullback or consolidation following the impulsive movement of gray wave 1. The anticipated next move in the higher degree is gray wave 3, which would signal a transition from the current corrective trend to a new impulsive upward movement. This implies that, once gray wave 2 completes, the market might enter a more bullish phase with the beginning of gray wave 3. The wave cancel invalid level is set at 11320.635, meaning that if the price exceeds this level, the current wave count would be invalidated, and the analysis would need adjustment. As of now, the analysis indicates that the corrective phase is nearing its end, and a potential reversal or continuation of the trend might occur shortly. In summary, the TASI Index is in a corrective phase, with gray wave 2 progressing and expected to conclude soon. Following this, the market may shift toward a more bullish trend with gray wave 3. However, the current wave count remains valid as long as the price stays below 11320.635. TASI Index Elliott Wave Analysis Trading Lounge Weekly Chart TASI Index Elliott Wave Technical Analysis Function: Bullish Trend Mode: Impulsive Structure: Orange Wave 3 (Started) Position: Navy Blue Wave 3 Direction (Next Lower Degrees): Orange Wave 4 Details: Orange wave 2 completed, orange wave 3 is currently in play. Wave Cancel Invalid Level: 11320.635 The TASI Index Elliott Wave analysis on the weekly chart shows a bullish trend with an impulsive movement. The wave structure currently under focus is orange wave 3, which has started following the completion of orange wave 2. The market is positioned in navy blue wave 3, which is part of the broader orange wave 3 structure. This analysis suggests that the market is continuing its upward momentum, confirming a strong bullish trend. Orange wave 3 is expected to continue pushing the market higher, in line with the impulsive nature of this phase. Once orange wave 3 concludes, the next phase, orange wave 4, will start, signifying a corrective phase. For now, however, the bullish trend remains intact as the market progresses within orange wave 3. The next lower degree wave, orange wave 4, is expected to follow the completion of the current impulsive phase, leading to a corrective movement. However, as long as the market is within orange wave 3, the bullish outlook is expected to persist. The wave cancel invalid level is set at 11320.635. If the price falls to this level, the current wave count would be invalidated, requiring a revision of the analysis. However, as long as the price stays above this level, the existing wave structure holds, and the bullish trend is likely to continue. In summary, the TASI Index is experiencing a bullish trend, with orange wave 3 in progress after the completion of orange wave 2. The market is expected to maintain its upward movement, and the current analysis remains valid as long as the price does not fall below 11320.635. Once the impulsive phase concludes, orange wave 4 will begin, initiating a corrective phase. Technical Analyst : Malik Awais Source : Tradinglounge.com get trial here! -
By Cryptowarrior · Posted
Bearish trends in semiconductor stocks could impact AI-related cryptocurrencies like Fetch (FET) and Render (RNDR). These tokens rely on advancements in computing power and innovation, both tied to the semiconductor industry. A downturn in semiconductor stocks may reduce demand for these tokens. The Impact of Semiconductor Disruptions The semiconductor sector shows signs of trouble, with the SOXX Index ETF revealing a bearish pattern. A crash in semiconductor stocks could disrupt chip production, leading to delays in AI and machine learning advancements. This could affect the prices of Fetch (FET) and Render (RNDR). Recent Performance of Fetch (FET) and Render (RNDR) Despite the potential risks, Fetch (FET) and Render (RNDR) have recently experienced price surges. Fetch (FET) saw a 14.09% increase, reaching $1.30, while Render (RNDR) rose by 6.10% to $5.22, pushing its market capitalization over $2 billion as per coinpedia markets data . However, market analysts warn that these gains may be short-lived if the semiconductor industry continues to struggle. Reduced investor confidence in technology-related assets could lead to lower demand for these tokens, resulting in significant price declines. As the semiconductor industry faces potential disruptions, AI tokens like Fetch (FET) and Render (RNDR) could see their prices decline. The dependency on advancements in computing power makes these tokens vulnerable to shifts in the semiconductor market. Investors should closely monitor semiconductor stocks as their performance could directly influence the future of AI-related cryptocurrencies.
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