Are you interested in the latest Stock Market Summary for S&P 500, NASDAQ 100, RUSSELL 2000, DAX 40, FTSE 100, and ASX 200? Let’s dive into the Elliott Wave Analysis to gain valuable insights.
Summary: We may have reached the lows for most indices, but to validate this potential trend reversal, we need to observe a larger impulse wave moving upwards with significant volume, indicating long trade opportunities. It’s crucial to be cautious of the 61.8% Fibonacci retracement levels, which could trigger a market downturn. To mitigate risks, consider long trades only when this level acts as strong support.
Elliott Wave count:
– SP 500: The c) of 4 wave appears to be complete, but we should await confirmation above the 61.8% retracement level before making any moves.
– Nasdaq 100: The c) of 4 wave is likely complete, but confirmation is still needed.
– Russell 2000: The b) of 4 wave is currently in progress.
– DAX 40: The market is experiencing a rally in wave b) of 4, with the current level at 16,200.
– FTSE 100: Wave c) of 2 could potentially reach 7630, but be cautious as it might fail and turn into Wave b) of 2.
– ASX 200: The wave (c) of ii) might have completed its move. However, be prepared for the possibility of a decline to 7380 – 7400, which could result in Wave (b) of ii).
Stay informed with the latest Elliott Wave Analysis for these indices to make well-informed investment decisions. Remember to consider the risk factors and confirmations before entering any trades. Happy investing!