The NASDAQ 100 (NDX), SP500 (SPX), and major tech stocks like Apple (AAPL), Tesla (TSLA), Amazon (AMZN), Nvidia (NVDA), Microsoft (MSFT), Meta Platforms (META), Netflix (NFLX), Alphabet (GOOGL), and Bitcoin (BTC) are firmly in a bullish cycle, currently in wave (1) of 5.
As markets progress through wave (1), we've surpassed the midpoint, reaching wave (iv) of iii) of 3 of (1). Now, we are navigating a series of fours and fives, with wave iv) and minor wave 4 likely to be sideways and complex. Patience is key.
Trading strategy
Hold long positions without adding more at this stage, as upward momentum may slow. Begin considering target zones for taking profits on selected stocks.
Video chapters
00:00 NASDAQ 100 (NDX)
06:28 Apple (AAPL)
08:22 Amazon (AMZN)
08:56 NVIDIA (NVDA)
10:52 Meta Platforms (META)
11:57 Netflix (NFLX)
13:08 Alphabet (GOOGL)
14:49 Microsoft MSFT
15:53 Tesla (TSLA)
17:09 Bitcoin
As with any investment opportunity there is a risk of making losses on investments that Trading Lounge expresses opinions on.
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.
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AUD/USD is closing in on 0.6700, positively kicking off the new week. Amidst a still-hawkish RBA and a September Fed rate cut-led US Dollar weakness, the Aussie pair stays supported even as markets turn cautious due to Middle East woes and ahead of key Fed events later in the week.
USD/JPY corrects further toward 147.00, as USD sees fresh selling
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USD/JPY struggles to capitalize on its early Asian session uptick to 148.00, extending declines toward 147.00. The pair is undermined by a renewed US Dollar selling and a mixed market mood, as investors await the Fed Minutes and Powell's speech for fresh directional impetus.
Gold reverses below $2,500 amid profit-taking, as a key week kicks in
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Gold price is trading below $2,500 in the Asian session on Monday, retreating from fresh record highs of $2,510. Markets resort to profit-taking, gearing up for US S&P Global PMIs, Fed Minutes and Fed Chair Powell's speech this week for fresh policy cues. Mid-East concerns could cap Gold's downside.
Dogecoin whales surge by 50% in 30 days, here’s what this means for DOGE
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Jackson Hole, Fed minutes and PMI
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S&P 500 consolidated sharp Thursday‘s gains called, with still bullish bias. Yet another intraday dip was bought, and we‘re heading to a tighter range week marked by manufacturing and services PMI with Jackson Hole.