Welcome to the Stock Market Report, where we provide an Elliott Wave Analysis for S&P 500, NASDAQ 100, RUSSELL 2000, DAX 40, FTSE 100, and ASX 200.
Summary: Markets are showing a positive trend as we head towards the end of the week. Anticipate lower volumes and observe the Nasdaq 100 reaching late 2022 old highs, closely followed by the SP500. While double tops do not signal the end of a trend, profit-taking may lead to corrective patterns until the final top acts as tested support for the main trend to move upwards. This is consistent with the wave count in the leading tech stocks.
Don’t forget to tune in to the various video chapters focusing on SP 500 (SPX), NASDAQ (NDX), Russell 2000 (RUT), DAX 40 (DAX), FTSE 100 UKX (UK100), and ASX 200 (XJO).
Analyst Peter Mathers from TradingLounge™ Australian Financial Services Licence – AFSL 317817, provides valuable insights. For more information access Trial on tradinglounge.com. Please note that TradingLounge is closing for Xmas from 20 Dec – 8 Jan and expresses gratitude for the support received.
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