TRENDING:

GBP/USD

XAU/USD

Elliott Wave analysis: S&P 500, Nasdaq 100 and top tech stocks [Video]

Peter Mathers TradingLounge

Summary:

Indices and most stocks are expected to complete a Wave C of a four-wave corrective rally in the next session, riding on Friday's momentum. After that, prices are likely to trend lower into Thursday and Friday, reaching the March Equinox low amid "triple witching" day on Friday, March 21, 2025

Elliott Wave analysis NASDAQ tech stocks:

SP500 (SPX): Wave IV.
NASDAQ 100 (NDX): Wave IV.
Apple (AAPL): Possible low in place.
Amazon (AMZN): Wave 4).
NVIDIA (NVDA): Wave 1?
Meta Platforms (META): Wave (4).
Netflix (NFLX): Wave 4).
Alphabet (GOOGL): Wave (4).
Microsoft MSFT: Wave (C) of 4).
Tesla (TSLA): Wave 4) lower.
Bitcoin: Wave IV.

Key financial events to watch

Monday, March 17:

Retail Sales (February)
Empire State Manufacturing Index (March)
Business Inventories (January)

Video chapters

00:00 S&P 500 (SPX)
03:11 NASDAQ 100 (NDX)
09:14 Apple (AAPL)
10:42 Amazon (AMZN)
11:47 NVIDIA (NVDA)
13:29 Meta Platforms (META)
15:15 Netflix (NFLX)
16:54 Alphabet (GOOGL)
18:24 Microsoft MSFT
19:17 Tesla (TSLA)
20:55 Bitcoin

Author

Peter Mathers

TradingLounge

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

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

Editor's Picks

EUR/USD declines toward 1.1700 on solid USD recovery

EUR/USD turns south and declines toward 1.1700 on Wednesday. A solid comeback staged by the US Dollar weighs heavily on the pair, as traders look to USD short covering ahead of US CPI on Thursday. However, the downside could be capped by hawkish ECB expectations.

GBP/USD slides toward 1.3300 after softer-than-expected UK inflation data

GBP/USD has come under intense selling pressure, eyeing 1.3300 in the European session on Wednesday. The UK annual headline and core CPI rose by 3.2% each, missing estimates of 3.5% and 3.4%, respectively, reaffirming dovish BoE expectations and smashing the Pound Sterling across the board.

Gold clings to modest gains above $4,300

Following Tuesday's volatile action, Gold regains its traction on Wednesday and trades in positive territory above $4,300. While the buildup in the USD recovery momentum caps XAU/USD's upside, the cautious market stance helps ithe pair hold its ground.

Bitcoin, Ethereum and Ripple extend correction as bearish momentum builds

Bitcoin, Ethereum, and Ripple remain under pressure as the broader market continues its corrective phase into midweek. The weak price action of these top three cryptocurrencies by market capitalization suggests a deeper correction, as momentum indicators are beginning to tilt bearish.

Ukraine-Russia in the spotlight once again

Since the start of the week, gold’s price has moved lower, but has yet to erase the gains made last week. In today’s report we intend to focus on the newest round of peace talks between Russia and Ukraine, whilst noting the release of the US Employment data later on day and end our report with an update in regards to the tensions brewing in Venezuela.

AAVE slips below $186 as bearish signals outweigh the SEC investigation closure

Aave (AAVE) price continues its decline, trading below $186 at the time of writing on Wednesday after a rejection at the key resistance zone. Derivatives positioning and momentum indicators suggest that bearish forces still dominate in the near term.