Bitcoin Surges, S&P Climbs plus a New Tech Stock High! | Elliott Wave S&P500 VIX Technical Analysis
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 Published On Mar 1, 2024

Rob is back with Elliott Wave analysis for stock, crypto and option traders. He covers key economic reports, including jobless claims and inflation indicators, which have influenced market sentiment. suggest that the Federal Reserve may be less inclined to hike rates in the near term. These are good conditions for stocks and consequently, the S&P500 steadily rising, with projections indicating further gains. Rob also covers the performance of the Dow and the QQQ, highlighting trends and potential breakout scenarios. Additionally, the analysis touches upon the strength of the US dollar and its impact on foreign investment. Bitcoin's significant surge see the crypto consolidating around $62,000 after reaching new highs. Rob also looks at a series of topical stocks including GOOGL and AMD.

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:: Sections in this Video ::
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00:00 - Introduction
00:30 - Market Overview
00:43 - Jobless Claims
01:18 - PCE
02:00 - SPY
04:26 - TNX
05:26 - US Dollar
07:00 - VIX
07:37 - DIA
08:24 - QQQ
09:26 - IWM
11:02 - Bitcoin
12:14 - COIN
13:46 - XLV
15:08 - TSLA
16:08 - GOOG
16:47 - USO
17:39 - AMD
18:25 - EWG
19:21 - Tradefinder

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Rob Roy provides a thorough update on the US market, focusing on key economic indicators and recent market trends. He begins by discussing the latest economic reports, including jobless claims and the PCE inflation indicator, both of which played a significant role in shaping market sentiment.

Despite slightly higher jobless claims, the market reacted positively, with the S&P experiencing upward momentum amidst discussions of potential rate hikes. Rob Roy emphasizes the importance of Elliott Wave projections in analyzing market trends and highlights the benefits of using software programmed to Ralph Nelson Elliott's algorithm.

The discussion extends to the TNX (10-year Treasury yield) and the strength of the US dollar, with Rob Roy providing insights into their implications for the equity market and foreign investment. He predicts a steady decline in rates and analyzes how a strong dollar can attract foreign investment into US equities.

Market volatility is another key topic, with Rob Roy analyzing the VIX and its recent trend. He predicts a potential decrease in volatility if the S&P continues its upward trajectory, providing valuable insights for traders.

Individual stocks, including Tesla, Google, and AMD, are analyzed for their recent performance and potential trading opportunities. Rob Roy provides technical analysis on these stocks, highlighting key support and resistance levels to watch.

The discussion also covers Bitcoin's recent uptrend and consolidation around $62,000, along with insights into other cryptocurrencies like Coinbase. Rob Roy offers his outlook on the cryptocurrency market and identifies key support levels for traders to consider.

The video concludes with a brief overview of foreign markets, particularly the EWG (iShares MSCI Germany ETF), which has seen significant upside momentum. Rob Roy encourages viewers to stay informed and continue learning about market dynamics, inviting them to join future live webinars for further analysis.

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