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

Peter Mathers TradingLounge

In-depth Stock Market Analysis and Elliott Wave Insights: Unveiling Opportunities in AI Stocks.

Discover the latest Elliott Wave analysis for prominent AI stocks, including NASDAQ, AAPL, TSLA, AMZN, NVDA, MSFT, Meta, NFLX, and GOOGL. In this comprehensive overview, we focus on MSFT as it charts new territory with an impressive Wave 3 of (5), setting the stage for an early Christmas market surge.

The Dynamics of the Market: MSFT's All-Time Highs and NASDAQ's Wave (5).

As Microsoft (MSFT) continues to reach unprecedented heights, specifically in Wave 3 of (5), the overall market sentiment suggests a bullish trajectory. This surge extends beyond MSFT, impacting the NASDAQ 100 with a similar Wave (5) count, indicating a sustained upward movement.

Strategic insights for the next trading session: Utilizing Elliott Wave patterns

In anticipation of the upcoming trading session, our analysis points towards a potential retracement. Leveraging the Classic Trading Levels pattern as a reliable trade setup, investors can strategically position themselves to capitalize on market fluctuations.

Actionable trading strategies: Seize opportunities with a "buy the dip" approach

Based on the identified patterns and market dynamics, a prudent trading strategy emerges: "buy the dip." By strategically entering the market during retracements, investors can take advantage of favorable price points, aligning with the Elliott Wave patterns and maximizing their potential returns.

Stay informed and make data-driven decisions in the dynamic world of AI stocks. Explore the Elliott Wave analysis, assess market conditions, and implement strategic trading approaches to navigate the complex landscape with confidence.

Video chapters:

00:00 NASDAQ 100 (NDX)
01:34 Apple (AAPL)
05:15 Amazon (AMZN)
07:35 NVIDIA (NVDA)
10:00 Meta Platforms (META)
12:11 Netflix (NFLX)
15:50 Alphabet (GOOGL)
19:59 Microsoft MSFT
24:34 Tesla (TSLA)

Author

Peter Mathers

TradingLounge

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

EUR/USD flirts with daily highs, retargets 1.1900

EUR/USD regains upside traction, returning to the 1.1880 zone and refocusing its attention to the key 1.1900 barrier. The pair’s slight gains comes against the backdrop of a humble decline in the US Dollar as investors continue to assess the latest US CPI readings and the potential Fed’s rate path.

GBP/USD remains well bid around 1.3650

GBP/USD maintains its upside momentum in place, hovering around daily highs near 1.3650 and setting aside part of the recent three-day drop. Cable’s improved sentiment comes on the back of the Greenback’s irresolute price action, while recent hawkish comments from the BoE’s Pill also collaborate with the uptick.

Gold clings to gains just above $5,000/oz

Gold is reclaiming part of the ground lost on Wednesday’s marked decline, as bargain-hunters keep piling up and lifting prices past the key $5,000 per troy ounce. The precious metal’s move higher is also underpinned by the slight pullback in the US Dollar and declining US Treasury yields across the curve.

Crypto Today: Bitcoin, Ethereum, XRP in choppy price action, weighed down by falling institutional interest

Bitcoin's upside remains largely constrained amid weak technicals and declining institutional interest. Ethereum trades sideways above $1,900 support with the upside capped below $2,000 amid ETF outflows.

Week ahead – Data blitz, Fed Minutes and RBNZ decision in the spotlight

US GDP and PCE inflation are main highlights, plus the Fed minutes. UK and Japan have busy calendars too with focus on CPI. Flash PMIs for February will also be doing the rounds. RBNZ meets, is unlikely to follow RBA’s hawkish path.

Ripple Price Forecast: XRP potential bottom could be in sight

Ripple edges up above the intraday low of $1.35 at the time of writing on Friday amid mixed price actions across the crypto market. The remittance token failed to hold support at $1.40 the previous day, reflecting risk-off sentiment amid a decline in retail and institutional sentiment.