SP 500 Elliott Wave Trading Technical Analysis: SP 500 (SPY), NASDAQ 100 NDX, QQQ ETF, Russell 2000 RUT IWM ETF, Day Trading Strategies
Market Summary: I'm still considering a corrective rally to the upside as Wave C of (4) However the stocks are suggesting we have a low in place for the bear market, so we also need to view the move up as Wave 1 the start of the next bullish run into new all time highs.
Day / Trend Trading Strategies: Short term and day traders continue long and positions trades need to wait for Wave 2.
SP 500 Elliott Wave Counts
S&P 500 Elliott Wave iii) of 3 of (1)
Russell 2000 Elliott Wave (iii) of 3 of (1)
NASDAQ 100 Elliott Wave iii) of 3 of (1)
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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.
