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Elliott Wave View: S&P 500 (SPX) Has Started Wave 5 Higher Short term Elliott Wave View in S&P 500 (SPX) shows the Index ended wave 3 at 4186.92 and pullback in wave 4 ended at 4048.4. Internal subdivision of wave 4 unfolded as a zigzag Elliott Wave structure. Down from wave 3, wave ((a)) ended at 4089.72 and rally in wave ((b)) ended at 4148.3. Final leg wave ((c)) lower ended at 4048.47. The Index has resumed higher and broken above wave 3, confirming that wave 5 has started. Wave 5 is unfolding as a 5 waves impulse structure with an extension. Up from wave 4, wave ((i)) ended at 4147.02 and pullback in wave ((ii)) ended at 4098.92. The Index then resumes higher again in wave ((iii)) in 5 waves of a lesser degree. Up from wave ((ii)), wave (i) ended at 4147.32 and dips in wave (ii) ended at 4099.12. Up from there, wave i ended at 4141.25, wave ii ended at 4109.86. Wave iii ended at 4186.2, wave iv ended at 4160.04. Final leg wave v is expected to end soon which should complete wave (iii). Afterwards, it should pullback in wave (iv) before the rally resumes again. Near term, as far as pivot at 4048.47 low stays intact, expect pullback to find support in 3, 7, 11 swing and Index to resume higher.
SP:SPX
by Elliottwave-Forecast
NASDAQ 100 WCA - Rectangle Pattern Index: NASDAQ 100 Index Exchange: NASDAQ Introduction: Greetings! In today's technical analysis, we're examining the NASDAQ 100 Index on the weekly scale. Although we're not hunting for a fresh breakout, our goal here is to estimate a possible price target based on the index's recent price action and established technical patterns. Analysis: The NASDAQ 100 Index was previously in a distinct downtrend, as demonstrated by the downward-sloping blue diagonal line. This trend shifted into a consolidation phase characterized by a Rectangle pattern. The upper boundary of this Rectangle is at 12,757.70, while the lower boundary sits at 10,698.84. Each of these levels was tested twice before the price broke out to the upside on the third attempt, supported by the 200 EMA. Having witnessed a notable price increase in recent weeks, investors might be wondering where the index could potentially head next. According to the Rectangle breakout, the price target for the NASDAQ 100 stands at 14,834. This represents a potential upside of about 16.5% from the breakout point. Conclusion: For those who have yet to identify specific stocks within the NASDAQ for investment, it may not be too late. Given the recent bullish breakout from the Rectangle pattern and the calculated price target, the NASDAQ 100 Index seems to offer promising potential for continued growth. As always, remember that this analysis does not constitute financial advice, and investors should perform their own research and incorporate risk management strategies. Thank you for reading this analysis. Please like, share, and follow for more market insights. Happy trading! Best regards, Karim Subhieh
NASDAQ:NDX
by KarimSubhieh
SPX: Denial on Denial.SPX: Denial on Denial. There are too much facts going on for anything else to happen than this. where should I even start. Highest debt ever above 140% for US. No increased debt ceiling. Yield curve topped out. Bonds needs to get bought. Inflation coming down harder and unemployment increasing rapidly. Core CPI is larger than CPI. harder for households. More house on the market than ever. Households are not getting sold. VIX expiration today 17e. Biggest expiration in QQQ, SPY, IWM, VIX expiration 19e this week. FED PIVOT is already here. When that happend in history, Recession has always followed. More outflow in stocks than inflows. Options is the only one saving the market till everything expire and the short bag is to great.
SP:SPXShort
by PivotX
2
Dow at 20 EMA.In last analysis we noticed that Dow was taking support at 20 DEMA. Will Dow hold this support or not is big question. If we have look at MACD Signal it is showing a sell signal. So technical. parameters are saying Dow is going to break 20 DEMA. Now if we see fundamentals thei banks are going through tough times. Inflation is till high, and if Tuesdays IP data also if comes below .50% then last man standing will fall off cliff. Next week is make or break of Dow. So wait til tuesday for direction.
TVC:DJIShort
by Trendz9
3
FTSE: About to give a strong longterm buy signalFTSE100 has been trading inside a Channel Up since the October 13th 2022 bottom, currently pulling back after a rejection on the internal LH trendline. This has turned the 1D timeframe neutral (RSI = 48.285, MACD = 4.950, ADX = 49.378) and with the price on the 1D MA50, those are the conditions for a buy. The Buy signal trigger however would be the index crossing over the LH trendline, as it did on a similar pattern on November 10th 2022. We will buy either on that trigger or on the 1D MA200. In both cases TP = 8,250. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
CAPITALCOM:UK100
by InvestingScope
3