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By tradinglounge · Posted
ASX: ASX LIMITED - ASX Elliott Elliott Wave Technical Analysis TradingLounge (1D Chart) Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with ASX LIMITED - ASX . We have determined that wave 2-red has ended, and wave 3-red can be opened to push higher. ASX: ASX LIMITED - ASX Elliott Wave Technical Analysis ASX: ASX LIMITED - ASX 1D Chart (Semilog Scale) Analysis Function: Major (Minor degree, red) Mode: Motive Structure: Impulse Position: Wave 3-red Details: Short-term outlook suggests that the 2-red wave has just concluded, and the 3-red wave may be ready to resume its upward movement. We are waiting for a smaller ABC Correction to have a good Long Trade Setup. Invalidation point: 61.71 Special Trial Offer - 0.76 Cents a Day for 3 Months! Click here https://tradinglounge.com/341 7 Analysts Over 170 Markets Covered Bitcoin Prediction Guess the Price? Test Your Analysis - Win 1 Million Satoshi https://tradinglounge.com/Bitcoin-Prediction ASX: ASX LIMITED - ASX Elliott Wave Technical Analysis TradingLounge (4- Hour Chart) ASX: ASX LIMITED - ASX Elliott Wave Technical Analysis ASX: ASX LIMITED - ASX 4-Hour Chart Analysis Function: Major trend (Minuette degree, purple) Mode: Motive Structure: Impulse Position: Wave ii-blue of Wave (iii)-purple Details: The short-term outlook suggests that waves (i) and (ii) in purple have just ended, and wave (iii) in purple is now unfolding to push higher. It is subdividing into wave i in blue, which seems to have just reached a peak. Now, wave ii in blue is likely to unfold to push slightly lower. We will closely monitor the ASX for a good long trade opportunity. Invalidation point: 61.71 Conclusion: Our analysis, forecast of contextual trends, and short-term outlook for ASX: ASX LIMITED - ASX aim to provide readers with insights into the current market trends and how to capitalize on them effectively. We offer specific price points that act as validation or invalidation signals for our wave count, enhancing the confidence in our perspective. By combining these factors, we strive to offer readers the most objective and professional perspective on market trends. Technical Analyst: Hua (Shane) Cuong, CEWA-M (Master’s Designation). Source : Tradinglounge.com get trial here! -
By Thomas_McGee · Posted
Recently, the performance of the Australian stock market has been noteworthy, especially the rise in the S&P/ASX 200 and S&P/ASX 300 indexes, indicating strong market momentum and positive investor sentiment. In this context, professional stock market analyst Thomas McGee provides his in-depth insights into the current market dynamics and future trends. Market Performance and Sensitivity to Interest Rates Thomas McGee states that the performance of the Australian stock market this week has been outstanding, particularly with significant gains in the S&P/ASX 200 and S&P/ASX 300 indexes. This trend indicates stable overall market growth and optimistic investor sentiment about market prospects. In terms of specific stock performance, AGL Energy saw a surge of over 7% due to an upgrade in its FY24 profit guidance, demonstrating strong market performance. Rise in Gold Prices and Opportunities in Gold Mining Stocks Thomas McGee suggests that apart from rate-sensitive sectors, the gold mining sector also shows significant growth potential, especially with the recent stabilization in gold prices. The rise in gold prices often directly impacts the performance of related stocks, and this trend is particularly evident in the Australian stock market. Thomas McGee notes that recent quarterly results of gold companies have been generally positive, coupled with positive broker ratings and target price adjustments, further enhancing the positive view of investors on the industry. In the face of potential fluctuations in the global economy, gold, as a traditional safe-haven asset, usually experiences increased demand, thereby driving up prices of related stocks. Although investing in gold stocks carries certain market volatility risks, investors can effectively capitalize on these fluctuations for their benefit through proper risk management and portfolio diversification. Future Outlook and Investment Strategies After a thorough analysis of the current performance and future opportunities in the Australian stock market, Thomas McGee emphasizes that given the complexity of the global economy and potential market fluctuations, investors should focus on diversifying their investment portfolios to mitigate potential market risks. Regarding investment strategies, Thomas McGee suggests that investors should closely monitor global economic trends, policy changes domestically and internationally, interest rate environments, etc., and adjust their investment strategies flexibly to capitalize on market fluctuations. For commodity-related stocks like gold mining stocks, investors should consider factors such as commodity price volatility and global demand changes to allocate funds reasonably. Finally, Thomas McGee encourages investors to continuously enhance their market analysis skills and improve their market forecasting abilities. In a constantly changing market environment, only by updating knowledge and skills continuously can investors better capture market opportunities and achieve asset appreciation. -
By tradinglounge · Posted
Today's Stock Market Overview: S&P 500, NASDAQ 100, RUSSELL 2000, DAX 40, FTSE 100, ASX 200. Featuring Elliott Wave Technical Analysis Elliott Wave Analysis Indices: Elliott Wave Analysis Indices: NASDAQ 100 and SP500 Wave (iv) of i) of 3 of (5) of 3). Waiting for the top of Wave i) and then the (a) (b) (c) corrective retracement as Wave ii) which is the long trade set up. Today I look at the bigger picture for indices and compare the timing of Elliott wave counts with the DAX and FTSE 100. In the medium term we can expect the current trend to last over a month, so staying long in indices and stocks is the basic trading strategy. Video Chapters 00:00 SP 500 (SPX) 06:35 NASDAQ (NDX) 09:28 Russell 2000 (RUT) IWM 10:03 DAX 40 (DAX) 16:06 FTSE 100 UKX (UK100) 20:44 S&P/ASX 200 (XJO) 27:19 End Analyst Peter Mathers TradingLounge™ Australian Financial Services Licence - AFSL 317817 Source: tradinglounge com
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