The Federal Reserve lowered interest rates by a quarter point, triggering a sharp market drop. Elliott Wave analysis now hinges on whether this initial decline forms a three-wave correction or a five-wave impulsive move. If it’s impulsive, we’d expect a corrective rally followed by another five-wave decline, confirming that Primary Wave 4) is underway.
Elliott wave outlook:
- S&P 500 (SPX): Wave v) of 3 of (A) of 4)
- NASDAQ 100 (NDX): Wave v) of 3 of (A) of 4)
- DAX 40 (DAX): Potentially completed Primary Wave 3) top
- FTSE 100 (UK100): Wave 4) in progress
- S&P/ASX 200 (XJO): Wave v) of 3 of (A)
Upcoming data
- Friday: U.S. PCE inflation and personal income reports are due.
Video chapters
Comprehensive Elliott Wave analysis for major indices:
00:00 SP 500 (SPX)
13:17 NASDAQ 100 (NDX)
13:58 DAX 40 (DAX)
17:05 FTSE 100 UKX (UK100)
18:26 S&P/ASX 200 (XJO)
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