Peter Mathers
TradingLounge
S&P 500, INDEXSP:DXY USD, .INX, NASDAQ-100, INDEXNASDAQ: NDX, Russell 2000 RUT. Dow Jones Industrial (DJI) Elliott Wave Technical Analysis and Trading Strategies.
US Stock Markets News Today: Wed – Fed press conference, Thursday – Jobless claims and more.
Elliott Wave Market Summary: The SP500 continues to cling to 4000 and it will continue to try and break away from it but will be pulled back.
Elliott Wave count: Tracking two bullish counts and one bearish count.
Day / Trend Trading Strategies: Looking for a trend late Thursday, expecting to hold that trade through Friday and Monday, building positions through these periods.
Video Chapters:
00:00 S&P500.
16.27 NASDAQ 100 (NDX).
21:05 Russell 2000 (RUT).
28:17 Dow Jones (DJI).
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GBP/USD continues to trade in a narrow range above 1.2350 on Wednesday after the data from the UK showed that the annual CPI declined to 10.7% in November from 11.1% in October. Market participants stay on the sidelines while gearing up for the Fed's policy announcements.
EUR/USD is falling back toward 1.0600 in early Europe, retreating from six-month highs. The pair eases amid a renewed demand for the US Dollar, as investors turn cautious and reposition ahead of the critical Fed policy announcements.
Gold price is treading water above the $1,800 mark on Wednesday, as the United States Dollar (USD) licks its wounds amid a sense of calm across the board, in anticipation of the all-important Fed policy decision and Chair Jerome Powell’s press conference.
Bitcoin has been subjected to criticism for its volatility and speculative nature for a very long time. But the recent developments in the crypto space have seemed to reinforce those concerns.
The US Dollar suffered heavy losses against its major rivals on Tuesday after the US Bureau of Labor Statistics reported that the Core Consumer Price Index (CPI) declined to 6% in November from 6.3% in October.
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