NASDAQ 100 (NDX), S&P 500 (SPX), Bitcoin (BTC), Apple (AAPL), Tesla (TSLA), Amazon (AMZN), Nvidia (NVDA), Microsoft (MSFT), Meta Platforms (META), Netflix (NFLX), and Alphabet (GOOGL).
NDX tech stocks: Elliott Wave patterns and market movements
Currently, the Elliott Wave count for many tech stocks follows a pattern of v of (v) of iii) of 1 of (5) of 3). While this general count applies to most stocks, intraday movements show that many stocks are moving similarly. We anticipate that the markets will edge higher through a series of Wave Fours, indicating a rough ride upward. It's important to avoid overtrading during this period. The next major trading opportunity will arise once Minor Wave 2 is established, which could take about a month. In the short term, we will look for swing trading opportunities from Wave iv) to Wave v of 1.
Video chapters:
00:00 NASDAQ 100 (NDX), SP500 (SPX)
06:00 Bitcoin
07:18 Apple (AAPL)
09:57 Amazon (AMZN)
14:02 NVIDIA (NVDA)
15:29 Meta Platforms (META)
17:07 Netflix (NFLX)
18:15 Alphabet (GOOGL)
19:47 Microsoft MSFT
20:51 Tesla (TSLA)
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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.
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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.
Breaking: 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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