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Elliott Wave Analysis: S&P 500, NASDAQ 100, DAX 40 Set for Potential Upswings Amid Key Financial Events


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S&P 500, NASDAQ 100, RUSSELL 2000, DAX 40, FTSE 100, ASX 200.
The sharp move lower in Indices is view as Wave ii). It appears the Elliott wave ii) is completed and would be confirmed with the first impulse wave up off the low, which is currently in play.

Summary:

  • S&P 500 (SPX): The Wave ii) low may be established, but confirmation is needed through a completed upward impulse wave.

  • NASDAQ 100 (NDX): Wave ii) low appears to be in place; awaiting confirmation with an upward impulse wave from the low. Currently holding a long position on 20,300 CTLP.

  • Russell 2000 (RUT) - IWM ETF: Confirmation of the Wave (ii) low is pending.

  • DAX 40 (DAX): There's potential for another low, but it may also move upward in alignment with the S&P 500.

  • FTSE 100 (UKX/UK100): Needs to establish support at 8,300 to confirm a bullish move.

  • S&P/ASX 200 (XJO): Considering that the Wave ii) low is in place, although there's no substantial evidence yet. Requires an upward impulse wave or support at 8,230.

Video Chapters
Comprehensive Elliott Wave analysis for major indices: 
00:00 SP 500 (SPX)
06:48 NASDAQ 100 (NDX)
09:36 Russell 2000 (RUT) IWM ETF
10:17 DAX 40 (DAX)
15:23 FTSE 100 UKX (UK100)
16:53 S&P/ASX 200 (XJO)
21:28 End

Analyst Peter Mathers 
Source: tradinglounge.com  


Financial Events Today:

  • U.S. Unemployment Claims
  • Flash Manufacturing PMI: Data releases for the U.S., Eurozone, and the UK.
  • Flash Services PMI: Data releases for the U.S., Eurozone, and the UK.
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