Elliott Wave Analysis

Elliott Wave Live: Market waits for NFP DataSep 2, 2024

Good morning, everyone! Hope you had a nice weekend.

JOIN ME IN WEBINAR HERE, TODAY AT 15CET

Today might be a bit of a slow session due to Labor Day in the US and Canada, so we may have to wait until tomorrow for the markets to really get back in action. Tomorrow, we’ll start getting some first important data this week; its going to be Swiss CPI release, followed by the US ISM manufacturing data, which has been showing a prolonged slowdown. We’ll also have the ISM services data on Thursday, and of course, the most important—US jobs data on Friday. This week data, and NFP in particular, should provide more insights into whether the Fed might opt for a 50 basis point cut or just 25 basis points in their September rate decision. Or, can we get some other surprises? We will see, but when it comes to market trends, we’re still seeing stocks in risk-on mode. The DAX is trading at all-time highs, and even US stocks turned up at the close on Friday, therefore I’m looking for more risk-on sentiment going into this week.

It’s also interesting to note that while the dollar is still up, it’s approaching potential resistance this week. A decline in the dollar could make things easier for stocks, which are already doing quite well despite the stronger dollar. But a weaker USD would obviously provide even more support for the equity markets.

For more analysis, make sure to join me in webinar later.

Grega

Commodity

Coffee Is Getting Expensive

Funded Trader Program

Trade our money and collect the profits.

Learn Elliott Waves

Access to more than 7 hours of educational material

Crypto

DeFi Index Is Extending Higher

Become a premium member

Get daily Elliott Wave updates for SP500,DAX, GOLD, SILVER, CRUDE, FX, CRYPTO, etc. or apply for unlimited access to the Elliot Wave educational videos.

DISCLAIMER

Any reviews, news, analysis, prices or other information contained on our website is provided as general market commentary and delivered electronically through a distribution channel to larger number of clients, therefore does not constitute investment advice or investment research. We are not trading advisors. Most of our work is for educational purposes only, with information based on Elliott Wave theory in real time. Trading forex, futures, options, stocks, cryptocurrenices or any another trading market carries a high level of risk, and may not be suitable for all investors.

The possibility exists that you could lose some or all of your initial investment; therefore you should not invest money that you cannot afford to lose. Our website and the information that we provide should not be relied upon as a substitute for extensive independent research before making your investment decisions. In no event will we be liable for any loss or damage on your account in connection with, the use of our products. For any real cash investments you have to contact your financial advisor.

Any information or material contained on our website is owned by Val Global d.o.o.. Reproduction is prohibited without Val Global d.o.o. prior license in writing.

By continuing to use the site, you agree to the use of cookies. Learn more.

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close