Market Analysis: Stocks Step Into A Correction
In my recent Elliott Wave analysis, I took a deep dive into the financial markets, highlighting significant movements and potential corrections across various sectors. I started with a broad overview of the current market conditions, emphasizing the impact of recent economic data and other events on market sentiment.
I reviewed major stock indices like the S&P 500 and tech giants such as Tesla and Nvidia. I pointed out critical support levels for the S&P 500 and discussed about current ongoing correction
After nice rebound, I also turned to cryptocurrencies, focusing on Bitcoin and Ethereum. Both are currently in intraday corrective phases, with the potential for further intraday downside before resuming their long-term uptrends. I identified key levels for buying opportunities, offering insights for crypto traders.
Trade well,
Grega
On the date of publication, Gregor Horvat did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
