Bullish market outlook: Elliott Wave analysis of SP500, NASDAQ, Apple, Tesla ahead [Video]

Peter Mathers TradingLounge

Market outlook

Bullish Trend Continuation: Any downward movements are viewed as part of a bullish corrective pattern within the overarching uptrend of the U.S. markets.
Trading Strategy Update: We are postponing short-term trades until after the U.S. elections. With 622 earnings reports expected today and the Federal Reserve meeting on November 7th, this week promises significant market activity.

Elliott Wave analysis of NASDAQ tech stocks

S&P 500 (SPX): Currently in Wave 4 with three bullish wave counts under consideration.
NASDAQ 100 (NDX): Progressing through Wave 4.
Apple (AAPL): Entered Wave (2).
Amazon (AMZN): In Wave iv) of 5 of (1).
NVIDIA (NVDA): Advancing in Wave 1 of (5).
Meta Platforms (META): Nearing completion of Wave 4.
Netflix (NFLX): Completed a Wave 4 Triangle pattern.
Alphabet (GOOGL): Currently in Wave 4.
Microsoft (MSFT): Holding at 400 support, in Wave A of (2).
Tesla (TSLA): Moving through Wave 4 of (1).
Bitcoin (BTC): In Wave 4.

Note: This analysis leverages Elliott Wave theory to interpret market trends and forecast future price movements. Investors should consider these insights alongside other factors when making trading decisions.

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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