S&P 500 Technical Analysis for Thursday, July 29

Elliott Wave Analyst - tradinglounge • Jul 29, 2021 at 12:29 AM EDT

S&P500 Technical Analysis: The top of wave i is in place and wave ii also seems to be in place, so the long trade setup is moving into place.

Technical Analysis Elliott Wave SP 500 [SPX] Nasdaq [NDX] Amazon AMZN, Alphabet GOOG, Apple AAPL, Square SQ, Facebook FB, Tesla TSLA.

S&P500 Technical Analysis: The top of Wave i is in place and Wave ii also seems to be in place, so the long trade setup is moving into place.
US Stocks AMZN, GOOG, AAPL, SQ, FB, TSLA Stocks are trending bullish
S&P 500 Elliott Wave: Wave ii of (iii) of iii)
NASDAQ Elliott Wave: Wave (ii) in play
SP500 Trading Levels: In the slightly bigger picture the 4300 Minor level 3 which is also the top of Minor group1 is the important price point as support or resistance and this will take a few more trading sessions to establish as support or resistance.
SP500 Trading Strategy: Long above 4400 SP500 and 15,000 NASDAQ 100 See video, but long trade probably late Thursday arvo or Friday morning, being mindful of tradinglounge's Bullish Weekly Cycle.

Video Length: 00:34:52

Disclosure:

As with any trading or investment opportunity there is a risk of making losses especially in day trading or investments that Trading Lounge expresses opinions on. Note: Historical trading results are no guarantee of future returns. Some investments are inherently more risky than others. At worst, you could lose your entire investment and more TradingLounge™ uses a range of technical analysis tools, such as Elliott Wave, software and basic fundamental analysis as well as economic forecasts aimed at minimising the potential for loss. The advice we provide through our TradingLounge™ websites and our TradingLounge™ Membership has been prepared without taking into account your particular objectives, financial situation or needs. Reliance on such advice, information or data is at your own risk. The decision to trade and the method of trading is for you alone to decide, tradinglounge takes no responsibility whatsoever for your trading profits or losses. This information is of a general nature only, so you should, before acting upon any of the information or advice provided by us, consider the appropriateness of the advice in light of your own objectives, financial situation or needs. Therefore, you should consult your financial advisor or accountant to determine whether trading in Indices Stocks shares Forex CFDs Options Spread Betting derivatives of any kind / products is appropriate for you in light of your financial trading circumstances.