Elliott Wave Analysis for NASDAQ Tech Stocks and SP500
Elliott Wave Analysis for NASDAQ 100 (NDX), SP500 (SPX), Apple (AAPL), Tesla (TSLA), Amazon (AMZN), Nvidia (NVDA), Microsoft (MSFT), Meta Platforms (META), Netflix (NFLX), Alphabet (GOOGL), Bitcoin (BTC)
Our focus is on NASDAQ tech stocks and the broader SP500 index as they navigate an Elliott Wave correction phase. Both indices appear to be in an intermediate or primary wave four, initiating the first leg of the correction. Wave four is notorious for its complex corrective patterns, so anticipate a minimum of a three-wave swing.
For current positions, consider taking partial or full profits during the upcoming B wave rally. If your positions are not leveraged, it might be prudent to weather the correction. For the NASDAQ 100, we analyze three possible counts, one suggesting a top is in place. However, this scenario seems less likely when we consider individual stock patterns on daily and weekly charts.
Stay tuned as we continue to monitor these market dynamics and provide updates on optimal trading strategies.
Video Chapters
00:00 NASDAQ 100 (NDX) SP500
07:06 Apple (AAPL)
09:38 Amazon (AMZN)
12:47 NVIDIA (NVDA)
16:29 Meta Platforms (META)
18:10 Netflix (NFLX)
19:17 Alphabet (GOOGL)
20:53 Microsoft MSFT
22:16 Tesla (TSLA)
26:23 Bitcoin
28:16 End
Analyst Peter Mathers TradingLounge™
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