Elliott Wave Forecast Team
ElliottWave-Forecast.com
NASDAQ Stock market Elliott Wave analysis and trading strategies: NASDAQ 100, Apple (AAPL), Tesla (TSLA), Amazon (AMZN), Nvidia (NVDA), Microsoft (MSFT), Meta Platforms (META), Netflix (NFLX), Alphabet (GOOGL)
Elliott Wave Analysis Update: As anticipated, indices and the majority of stocks are trending upwards, with our long positions performing strongly. I've been adjusting stop-loss orders higher and, this week, will pay closer attention to potential targets given that last week's uptrend in the indices occurred on diminished volume. It's crucial to safeguard our long positions in this scenario. Additionally, based on the Elliott Wave count, we may be nearing an important peak, identified as Intermediate Wave (3).
Video chapters:
00:00 NASDAQ 100 (NDX) SPX
02:22 Apple (AAPL)
03:08 Amazon (AMZN)
04:34 Meta Platforms (META)
06:03 NVIDIA (NVDA)
06:54 Netflix (NFLX)
08:05 Alphabet (GOOGL)
10:59 Microsoft MSFT
12:47 Tesla (TSLA)
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AUD/USD trades modestly flat above 0.6400 after Aussie trade data
AUD/USD reacts little to better-than-expected Australian Goods Trade Balance data and remains in a range above 0.6400 early Thursday. Rising bets for an early RBA rate cut cap the Aussie's upside amid China's economic woes and US-Sino trade war fears. Eyes turn to US data, Fedspeak.
Bitcoin price breaks above the $100K milestone
Bitcoin's price surpassed the $100K mark on Thursday after its recent pullback last week.The momentum indicator, the Relative Strength Index, indicates a continuation of the uptrend, while the technical outlook suggests a rally toward $125K.
USD/JPY fades the dovish BoJ commentary-led uptick above 150.50
USD/JPY is reversing the bounce to near 150.70 in the Asian session on Thursday. The pair remains weighed down by rising bets for another BoJ rate hike this month, shrugging off the dovish comments from BoJ policymaker Nakamura and a modest recovery in the US Treasury bond yields.
Gold extends range play as focus shifts to US Nonfarm Payrolls
Gold's price continues with its narrow range struggle at around $2,650 early Thursday, stalling Federal Reserve Chairman Jerome Powell’s speech-led uptick. The focus now remains on the US Jobless Claims data due later in the day in the lead-up to the all-important Nonfarm Payrolls data.
Four out of G10
In most cases, the G10 central bank stories for December are starting to converge on a single outcome. Here is the state of play: Fed: My interpretation of Waller’s speech this week is that his prior probability for a December cut was around 75% before the data.
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