Bullish trends ahead for global indices including S&P 500, Nasdaq 100 [Video]

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:

  • 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.

Source: https://www.fxstreet.com/news/elliott-wave-forecast-bullish-trends-ahead-for-global-indices-including-sp-500-nasdaq-100-video-202410170515