Elliott Wave analysis: Nasdaq 100 and top tech stocks [Video]

Peter Mathers TradingLounge

In-depth analysis of NDX tech stocks: SP500 & NASDAQ Elliott Wave trends

Our Elliott Wave analysis for the NASDAQ 100 (NDX), QQQ ETF, SP500 (SPX), SPY, Apple (AAPL), Tesla (TSLA), Amazon (AMZN), Nvidia (NVDA), Microsoft (MSFT), Meta Platforms (META), Netflix (NFLX), and Alphabet (GOOGL) indicates a developing Wave iii of (i) of v) of 1 of (5) of 3) of I.

Current market outlook:

The support level held firm last Friday, aligning with our expectations. We are now looking for the completion of the first impulse wave. Currently, waves i, ii, and iii are visible, and we anticipate waves iv and v of (i) to follow, confirming the potential for new market highs.

Detailed wave counts:

Examined an alternate higher wave count that aligns with MSFT and AMZN.
Minor Wave 1 and Wave 2 appear to be in place, suggesting a bullish trend.
Alternatively, the current low of Wave iv) could be identified as wave 2.

Trading strategy:

Once the impulse wave (i) is confirmed, we can prepare for trading Wave (ii). The entry trigger will be the high of wave b of (ii).

Stay tuned for further updates and detailed strategies to capitalize on these market movements.

Video chapters

00:00 NASDAQ 100 (NDX) SP 500
06:49 Apple (AAPL)
08:47 Amazon (AMZN)
10:34 NVIDIA (NVDA)
12:54 Meta Platforms (META)
13:50 Netflix (NFLX)
16:05 Alphabet (GOOGL)
17:51 Microsoft MSFT
19:55 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.

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