SPX500 Gaining | 08 May 2020

 NQ100 Weekly Review

Wave Analysis

NASDAQ-100 index has gained almost 90% the value it lost earlier this week, we are expecting a possible break out above the recent highest high to pick a long term buy position with an ultimate target around 10,000.00. The anticipated bullish price rally is the continuation of the impulsive wave (v) and can only be violated in case the price fails to break beyond 9870.0. As it is now, we recommend looking for low risk buy positions with our first target set around 9870.0 and the next target at 10,000.00.

Trade Recommendations:

Look for buy positions with your target at 10,000.00.

SPX500 weekly Review

Wave Analysis

While NASDAQ-100 Index has gained almost 90% the value is lost earlier this week, SPX500 has gained only around 60% what it lost following the current Covid 19 Pandemic spread, we expect further momentum to the upper side and should break beyond the current highest high. The anticipated bullish price rally is the continuation of the impulsive wave (v) and should break beyond 3427.00 towards 7000.00 and could breakout much higher, this view can only be invalidated in case the price fails to break beyond 3427.00.

Trade Recommendations:

Expect a possible momentum towards 3427.00.

ASX Weekly Review

Wave Analysis

The Australian index bounced off from the level 4713.9-4787.1, headed to the upper side and is still very much bullish. While the price is contained above this zone,we are looking for buy orders. Our expectations is that the price should continue to the upper side with an ideal target around 7183.0. In case the price breaks and closes above this level, then further momentum towards the just said level is expected, but on the flip side should the price break and close below 4713.9, then  we expect a momentum towards 4229.5.

Trade Recommendations:

Remain long with an ultimate target around 7183.0.

Bob Stan
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