![Elliott Wave analysis: Bullish outlook on SP500 and NASDAQ post-AMZN earnings and FOMC [Video]](https://i.newsformal.com/images/2024/8/1/fxstreetnews/elliott-wave-analysis-bullish-outlook-on-sp500-and-elliott-wave-analysis-bullish-outlook-on-sp500-and-DDC8B0FE864AFFF6756AEE0104C1B0F0.webp)
S&P 500, SPY, NASDAQ 100, QQQ, DAX 40, FTSE 100, ASX200 Elliott Wave Analysis. In the latest Elliott Wave analysis, the confluence of Amazon earnings, ADP employment figures, and the Federal Open Market Committee announcement has provided critical signals for the SP500 and NASDAQ. These events have effectively marked the conclusion of the corrective pattern Wave , signaling a risk-on environment for indices, ETFs, and a broad range of stocks.
Traders are encouraged to utilize the trading levels and abc Elliott corrective patterns to identify optimal trade setups. These patterns provide a structured framework for understanding market movements and can be particularly useful in navigating the current market conditions. The alignment of fundamental data with Elliott Wave technical analysis underscores the importance of a comprehensive trading strategy.