Elliott Wave analysis is a powerful tool for traders and investors to predict market movements and trends. In this analysis, the focus is on several major indices such as the S&P 500, NASDAQ 100, RUSSELL 2000, DAX 40, FTSE 100, and ASX 200. The analysis suggests that the ASX 200, DAX 40, and FTSE 100 are showing a “risk on” sentiment, indicating a positive outlook for these indices. On the other hand, the S&P 500 and NASDAQ 100 are continuing their strong upward trend, with tech stocks leading the way.
The video includes chapters on each index, starting with the SP 500 and SPY ETF, followed by the NASDAQ and QQQ ETF, the Russell 2000 and IWM ETF, the DAX 40, the FTSE 100, and finally the S&P/ASX 200. The analysis delves into alternative intraday Elliott wave counts for these indices, confirming that they are on track and advancing into Minor Wave 3 of (5). This suggests that the bullish trend is likely to continue, especially for the tech-heavy indices like the NASDAQ 100.
It is important to note that upcoming events like the release of US Core CPI figures and earnings reports from major banks such as JPMorgan Chase, Wells Fargo, and Citigroup on July 12 could have an impact on market sentiment and volatility. Traders and investors should stay informed and be prepared for potential market movements based on these events.
Overall, the Elliott Wave analysis indicates a bullish outlook for the ASX 200, DAX 40, FTSE 100, S&P 500, and NASDAQ 100 indices. The strong upward trend in these indices, especially in tech stocks, suggests that the momentum is likely to continue in the near future. However, it is important to stay updated on market news and events that could potentially affect market sentiment and trading opportunities. By using Elliott Wave analysis in conjunction with other technical indicators and fundamental analysis, traders and investors can make more informed decisions and navigate the markets with confidence.
