Elliott Wave Analysis: Major Indices

We maintain a bullish outlook on the following indices: S&P 500, NASDAQ 100, Russell 2000, DAX 40, FTSE 100, and ASX 200. Two Elliott Wave counts point to upward movements. While alternative wave counts at the Primary degree for the S&P 500 and Bitcoin are considered, they are not critical at this time. Collaboration will help us determine the best path forward.

S&P 500 (SPX)

• Action: Long position initiated at 5,850.
• Pattern: Observing a Classic Trading Levels Pattern (CTLP) at this level.

NASDAQ 100 (NDX)

• Action: Long position initiated at 20,300.
• Pattern: CTLP in formation.

Russell 2000 (RUT) / IWM ETF

• Current Wave: Anticipating a Wave (ii) retracement.
• Outlook: Expecting higher price levels following the retracement.

DAX 40 (DAX)

• Current Wave: Wave (iv) appears to have completed.
• Action: Setting up a long trade at 19,500 with CTLP confirmation.

FTSE 100 (UKX / UK100)

• Action: Long position initiated at 8,300 and adding positions at 8,350.

S&P/ASX 200 (XJO)

• Next Target: Aiming for a long position at 8,400.

Key Financial Events Today

• United States:

  • Core Retail Sales m/m
  • Retail Sales m/m
  • Unemployment Claims
  • Philly Fed Manufacturing Index

• Australia:

  • Unemployment Rate

• European Union:

  • Monetary Policy Statement
    
    Video Chapters
  • Comprehensive Elliott Wave analysis for major indices: 
    00:00 SP 500 (SPX)
    22:05 NASDAQ (NDX)
    28:20 Russell 2000 (RUT) IWM ETF
    29:39 DAX 40 (DAX)
    34:03 FTSE 100 UKX (UK100)
    39:34 S&P/ASX 200 (XJO)
    46:52 End
     
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