SP500 SPX Technical Analysis Elliott Wave Market Update, Plus NASDAQ $NDX
TRADINGLOUNGE 20 DAY TRIAL
For Traders Looking to Boost Your Trading and Analysis Skills
Technical Analysis: Bullish Trend into 3000
Elliott Wave: Wave v) of 5 of (1)
Trading Levels: 3000 Major Trading Level (TL3|3000) as the resistance
Trading Strategy: Trade long to 3000
About TradingLounge – Peter Mathers
Learn how to trade through TradingLounge's trading techniques and technical analysis Elliott Wave and Trading Levels
Covering Indices, stocks, Forex, commodities and education
Empower your Trading by taking the 20 day trial
Connect with Tradinglounge:
Visit Tradinglounge Website:
Like Tradinglounge on FACEBOOK:
Follow Tradinglounge on TWITTER:
Follow Tradinglounge on INSTAGRAM:
Follow Tradinglounge on LINKEDIN:
Follow Tradinglounge on PINTEREST:
=========================
Risk Disclaimer
As with any investment opportunity there is a risk of making losses especially in day trading or investments that Trading Lounge expresses opinions on.
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 securities, Forex
and derivatives products is appropriate for you in light of your financial circumstances.
I got a similar count on the LTF’s for BTC . I’m looking for price to push over the top of 10 000 in a 5th and a correction to materialise. Might prove to be a “Bull Trap ” and the initial emotion could spark a quick move south based on fear ?
@TradingLounge BTC? Wow.
@TradingLounge I’ve spent the last three nights paper trading on Tradingview.com the Bitcoin contract offered by the Bitmex exchange to see if I can use EW & the levels …… early days but seems no different to anything else bar the occasional spike. Plenty of volume on that exchange ….. Over Breakfast this morning I thinking you could script the levels into Tradingview as it facilitates layering which can be switched on and off with a mouse click ….. ??
Please put the mic closer so we can hear u. Its low volume. Thanks for the update
This will break below 3k, last time everyone was banking on a direction, it failed so what we assume right off the top of our heads for bears & bulls can’t be it…it is way too obvious & the algo knows that, it’s coded against that. We might correct to 2100-1700 like we thought originally as now people assume all will be better with US opening, or this is 1 of 5 of the 5th wave of the super cycle & we will never see these outrageous prices yet low in comparison of what’s to come, again. How can a small player play both sides here. what could be the alternative that’s not so obvious. Can it be foreseen looking at BTC which is way ahead being 24/7? can it be foreseen by the inverse type stocks that correct when others move up? what about gold or silver? just as we feel all is in the clear, a count will fail. right now we have a flat wave 3 let’s assume so perhaps 3 is on a way, all of this will put wave 5 at 2021, right after an election….always the case…stocks fall before elections & start the recovery process right after the elections….could this pattern repeat when nothing is the same this year…summer normally slows down stocks but this time 30m people are with less distractions ready to gamble….so many unknowns. Hertz is yet another company filing for chapter 11….let’s go back to 2001, 2008, even earlier…when companies were shutting down, was the market dropping or going up if people were losing jobs, companies were shutting down, stocks can only go up so much with layoffs…lots to analyze. If algo is preprogrammed, baked into the system….where are the elites heading? many claim to have sold & are sitting on cash…now imagine if the inflation goes up, USD gets devalued due to bailouts, monet printing & outright theft….now your cash is “ earning” negative rates which means you are losing $, banks freeze assets cuz letting the economy collapse is a national security issue, now your cash is 20%+ lower, you can’t take it out of the banks…now what? elites swoop in to buy out all of the destroyed businesses at a massive discount? it sure feels too expensive to them…
all of this & some worth to think about.
es triangle abcde to 3009……
I c your proposal! Worried abt angle of approach on w3 though!
@TradingLounge Yes in w3. I will revert to original count where wave 1 or A is completed at 29/04/20 and wave 2 or B at 14/05/20! Tnx
The bearish count? Let’s not get caught pants down on low tide!
@TradingLounge Ok!
Based on real valuue, S&P 500 ought to go up to 4000 – 5000 soon; going there or not developing strength to reach real value?
@TradingLounge Based on real value the S&P 500 ought to reach 4000 – 5000 in the next weeks, is well behind getting to 3000. My point is that the market is taking much longer than it ought to move upwards. Have picked up that there is price element and time element. Question how much time the U.S. government and Fed are given for their infinite debt and QE policies to work.
@TradingLounge Factoring in Federal Reserve QE stimulus and U.S. government debt.
@TradingLounge Effect of U.S. government debt and Fed QE is that market not only goes up in short term more than anticipated, countering the shorts; also not gaining as much strength / momentum in long term as would hope, frustrating the longs. It is the latter point about the long term feel is not being given enough attention, which am trying to make aware, albeit the estimates are a little rough. Good luck, also mind that something in long term looks amiss.