Stock Market S&P 500 [SPX] Index and Nasdaq [NDX] Technical Analysis Elliott Wave for Investing trends or day trading.
SPX S&P 500 Elliott Wave: tracking two bullish corrective patterns as Wave ii or (iv)
Trading Levels: The next support for the SP500 is 3650, this is the low end of Minor Group2
SP500 Trading Strategy: The sharp move down appears to be an impulse wave (five waves) so we can expect once it completes at 3650 area, then an abc corrective rally 50 - 62% of the sharp move down, then another impulse wave lower then can move through the 3650
Video length 00:23:40
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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.
