01Aug

Elliott Wave Analysis: AMZN Earnings and FOMC Signal Bullish Moves for SP500 & NASDAQ

S&P 500, SPY, NASDAQ 100, QQQ, DAX 40, FTSE 100, ASX200 Elliott Wave Analysis

In the latest Elliott Wave analysis, the confluence of Amazon (AMZN) earnings, ADP employment figures, and the Federal Open Market Committee (FOMC) announcement has provided critical signals for the SP500 and NASDAQ. These events have effectively marked the conclusion of the corrective pattern Wave (4), signaling a "risk-on" environment for indices, ETFs, and a broad range of stocks. This shift is a pivotal moment for traders, indicating that market sentiment is favoring more aggressive, bullish positions.

As we approach Thursday's trading session, traders should be aware of the potential retracement dip associated with Wave ii), which serves as a prime setup for long trades. This dip offers an excellent entry point for those looking to capitalize on the anticipated upward movement later in the day and into Friday morning. The retracement is expected to be brief, providing a strategic opportunity for traders to position themselves ahead of the next bullish wave.

In addition to the U.S. indices, the European and Australian markets are also exhibiting a "risk-on" sentiment. Traders are encouraged to utilize the trading levels and abc Elliott corrective patterns to identify optimal trade setups. These patterns provide a structured framework for understanding market movements and can be particularly useful in navigating the current market conditions.

The alignment of fundamental data with Elliott Wave technical analysis underscores the importance of a comprehensive trading strategy. With key support and resistance levels clearly defined, and the market showing strong bullish tendencies, traders have a clear roadmap for potential gains. This week's analysis highlights the importance of staying informed and adaptable in response to market catalysts.

In summary, the combination of AMZN earnings, ADP figures, and the FOMC announcement provides a robust foundation for bullish trading strategies. The anticipated retracement in Wave ii) offers an entry point for long positions, with further upside potential as the week progresses. This analysis is crucial for traders looking to optimize their strategies in the current market environment.

Video Chapters 
00:00 SP 500 (SPX), SPY ETF
02:38 NASDAQ (NDX), QQQ ETF
05:13 Russell 2000 (RUT) IWM ETF
06:47 DAX 40 (DAX)
08:47 FTSE 100 UKX (UK100)
12:33 S&P/ASX 200 (XJO)
19:54 End

Analyst Peter Mathers TradingLounge
See previous Video: Elliott Wave Analysis SP500 & More...  

Special Offer  -  Buy 1 Month & Get 3 Months - Bonus Click here  

Related

Opportunities for traders to strategically capitalize: Binance coin/ U.S. dollar (BNBUSD) Elliott Wave Technical Analysis

Opportunities for traders to strategically capitalize: Binance coin/ U.S. dollar (BNBUSD) Elliott Wave Technical Analysis

Delve into the BNBUSD pair's Elliott Wave analysis, revealing an ongoing uptrend driven by Wave ...

Read More >
Dow Jones Trading Guide: DJI Index Elliott Wave Technical Analysis & DJI Investing Tips | Explore the Best ETFs

Dow Jones Trading Guide: DJI Index Elliott Wave Technical Analysis & DJI Investing Tips | Explore the Best ETFs

Unlock the secrets of Dow Jones trading with an in-depth Elliott Wave analysis. Learn effective stra...

Read More >
Gold (XAUUSD) Commodity Ongoing Bullish Trend in the Market: In-Depth Elliott Wave Technical Analysis and Forecast

Gold (XAUUSD) Commodity Ongoing Bullish Trend in the Market: In-Depth Elliott Wave Technical Analysis and Forecast

In this detailed Gold Elliott Wave analysis, we explore the ongoing bullish trend in the gold market...

Read More >
Hang Seng Index Elliott Wave Technical Analysis from Trading Lounge offers insights into current market trends

Hang Seng Index Elliott Wave Technical Analysis from Trading Lounge offers insights into current market trends

The Hang Seng Index Elliott Wave analysis from Trading Lounge offers insights into current market tr...

Read More >
Stocks Bullish: AAPL, AMZN, NVDA, TSLA, GOOGL, META, NFLX, MSFT, Elliott Wave Analysis

Stocks Bullish: AAPL, AMZN, NVDA, TSLA, GOOGL, META, NFLX, MSFT, Elliott Wave Analysis

Following a robust Friday close, a positive momentum is anticipated for Monday's market. Several...

Read More >
Unlocking ASX Trading Success: NORTHERN STAR RESOURCES LTD – NST Stock Analysis & Elliott Wave Technical Forecast

Unlocking ASX Trading Success: NORTHERN STAR RESOURCES LTD – NST Stock Analysis & Elliott Wave Technical Forecast

This article provides a detailed Elliott Wave technical analysis of Northern Star Resources Ltd (NST...

Read More >

Buy 1 Month

Get 3 Months!

Special Offer:

Trade Recommendations

Unleash the power of deversified trading with our comprehensive portfolio, covering:

  • Stock Trades
  • Crypto Trades
  • Forex Trades
  • Commodity Trades
Elliott Wave Analysis

Gain a competive edge with expert insights in to:

  • Global Indices
  • US Stocks & ASX Stocks
  • Forex & Crypto
  • Commodities
Top-Notch Trading Tools

Equip yourself with the tools of success:

  • Social Chat
  • Elliott Wave Algorithm
  • Screener
  • TradingLevels
  • Trading Game
7 Elliott Wave Analysts

Stay ahead of the market with daily charts and insightful videos
-Your secret to strategic trading!

JOIN HERE


Welcome to TradingLounge (ASIC A.R.No. 321187), specialists in trades, trading education and technical analysis, covering stocks, indices, commodities, forex and cryptocurrencies.

When you join TradingLounge you have access to everything we offer, including trade tools, educational content and a social platform to chat with like-minded investors.

Read more

@Copyright 2024 by tradinglounge.com

Contact Us

Australian no: 02 4787 6020

International no: +61 (2) 47876020

Pay with:

Find us on