Stock market Elliott Wave technical analysis and trading strategies
Featuring: S&P 500 (SPX), NASDAQ 100 (NDX), Apple (AAPL), Tesla (TSLA), Amazon (AMZN), Nvidia (NVDA), Microsoft (MSFT), Meta Platforms (META), Netflix (NFLX), Alphabet (GOOGL), Bitcoin (BTC)
Elliott Wave analysis of Nasdaq tech stocks
Indices and leading tech stocks are currently in Wave 3 of (3) according to Elliott Wave Theory. Within this Minor Wave 3, individual stocks may display different counts. Our goal is to synchronize these counts so that they peak together during Minor Waves 3 and 4. This alignment sets the stage for the larger Intermediate Wave (3), which is our target range for swing trading long positions.
Trading strategy: Risk on
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Hold long positions: Continue to maintain your long positions.
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Build positions: Keep adding to your positions in line with wave counts and TradingLevels.
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Alignment with wave counts: Focus on the wave counts to optimize entry and exit points.
Upcoming economic news
- Next Session: Be prepared for the upcoming Flash Manufacturing PMI and Flash Services PMI reports.
Video chapters
00:00 NASDAQ 100 (NDX). SP500 (SPX).
09:57 Apple (AAPL).
13:30 Amazon (AMZN).
16:22 NVIDIA (NVDA).
17:33 Meta Platforms (META).
19:23 Netflix (NFLX).
20:35 Alphabet (GOOGL).
22:27 Microsoft MSFT.
24:00 Tesla (TSLA).
24:45 Bitcoin.
28:24 End.
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Historical results are no guarantee of future returns. Some investments are inherently riskier than others. At worst, you could lose your entire investment. TradingLounge™ uses a range of technical analysis tools, software and basic fundamental analysis as well as economic forecasts aimed at minimizing the potential for loss.
The advice we provide through our TradingLounge™ websites and our TradingLounge™ Membership has been prepared without considering your objectives, financial situation or needs. Reliance on such advice, information or data is at your own risk. The decision to trade and the method of trading is for you alone to decide. This information is of a general nature only, so you should, before acting upon any of the information or advice provided by us, consider the appropriateness of the advice considering your own objectives, financial situation or needs. Therefore, you should consult your financial advisor or accountant to determine whether trading in securities and derivatives products is appropriate for you considering your financial circumstances.
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EUR/USD pares gains back below 1.0500 in the European session on Monday. The pair still stays supportec by the German Conservatives Party win in the federal election, which revived hopes for better economic outlook. The upside remains elusive due to a cautious mood and mixed German IFO data.
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GBP/USD reverses gains to trade near 1.2650 in European trading on Monday. The pair eases as the US Dollar pauses its decline but the downside appears capped ahead of speeches from several BoE policymakers.
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Gold price remains stuck in multi-day-old trading range near all-time peak
Gold price continues with its struggle to gain any meaningful traction and remains confined in a multi-day-old trading range through the first half of the European session on Monday. Investors remain worried that Donald Trump's trade tariffs would trigger a global trade war which continues to act as a tailwind for the safe-haven bullion.
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Solana drops below $160, liquidating $26 million in leverage as negative funding rate weighs in
Solana price extends its decline and trades around $160 on Monday after falling over 11% last week. The recent correction in SOL has triggered a wave of over $26 million in liquidations in the last 24 hours and $110 million last week.
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We delve into the world of money market funds. Distinct dynamics are at play in the US, eurozone, and UK. In the US, repo rates are more attractive, and bills are expected to appreciate. It's also worth noting that the Fed might cut rates more than anticipated, similar to the UK. In the eurozone, unsecured rates remain elevated.
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