Elliott Wave analysis: Nasdaq and top tech stocks [Video]

Peter Mathers TradingLounge

Elliott Wave analysis of NASDAQ tech stocks

As markets have moved lower, we are adjusting our analysis to reflect the next logical and practical step for the S&P 500, NASDAQ, and major tech stocks. We will elevate the degree of Intermediate Wave (4) to Primary Wave (4) and look for patterns that align with the retracement and market support levels at this degree.

Market outlook and wave analysis

There is more downside expected, though it is not extensive, over the upcoming trading sessions. We'll be closely monitoring the speed, volume, and pattern of this final leg lower.

Key stocks to watch

All major tech stocks, including Apple (AAPL), Amazon (AMZN), Nvidia (NVDA), Meta Platforms (META), Netflix (NFLX), Alphabet (GOOGL), Microsoft (MSFT), and Tesla (TSLA), are anticipated to edge lower, with some experiencing more significant declines than others over the next two or three trading sessions.

Video chapters:

00:00 NASDAQ 100 (NDX) & SP500 (SPX)
11:19 Apple (AAPL)
13:38 Amazon (AMZN)
16:00 NVIDIA (NVDA)
17:24 Meta Platforms (META)
18:46 Netflix (NFLX)
19:12 Alphabet (GOOGL)
20:31 Microsoft MSFT
21:03 Tesla (TSLA)
23:43 Bitcoin, Ether, Solana

Author

Peter Mathers

TradingLounge

Peter Mathers started actively trading in 1982. He began his career at Hoei and Shoin, a Japanese futures trading company.

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