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

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