Elliott Wave analysis of NASDAQ tech stocks
As markets have moved lower, we are adjusting our analysis to reflect the next logical and practical step for the S&P 500, NASDAQ, and major tech stocks. We will elevate the degree of Intermediate Wave (4) to Primary Wave (4) and look for patterns that align with the retracement and market support levels at this degree.
Market outlook and wave analysis
There is more downside expected, though it is not extensive, over the upcoming trading sessions. We'll be closely monitoring the speed, volume, and pattern of this final leg lower.
Key stocks to watch
All major tech stocks, including Apple (AAPL), Amazon (AMZN), Nvidia (NVDA), Meta Platforms (META), Netflix (NFLX), Alphabet (GOOGL), Microsoft (MSFT), and Tesla (TSLA), are anticipated to edge lower, with some experiencing more significant declines than others over the next two or three trading sessions.
Video chapters:
00:00 NASDAQ 100 (NDX) & SP500 (SPX)
11:19 Apple (AAPL)
13:38 Amazon (AMZN)
16:00 NVIDIA (NVDA)
17:24 Meta Platforms (META)
18:46 Netflix (NFLX)
19:12 Alphabet (GOOGL)
20:31 Microsoft MSFT
21:03 Tesla (TSLA)
23:43 Bitcoin, Ether, Solana
As with any investment opportunity there is a risk of making losses on investments that Trading Lounge expresses opinions on.
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.
The advice we provide through our TradingLounge™ websites and our TradingLounge™ Membership has been prepared without considering your objectives, financial situation or needs. Reliance on such advice, information or data is at your own risk. The decision to trade and the method of trading is for you alone to decide. This information is of a general nature only, so you should, before acting upon any of the information or advice provided by us, consider the appropriateness of the advice considering your own objectives, financial situation or needs. Therefore, you should consult your financial advisor or accountant to determine whether trading in securities and derivatives products is appropriate for you considering your financial circumstances.
Recommended content
Editors’ Picks
EUR/USD deflates to three-day lows around 1.1130
The euro remains under heavy pressure on Friday, with EUR/USD retreating toward the 1.1130 level to hit new three-day troughs. Despite a weaker reading in the U-Mich index in May, the US Dollar found support as inflation expectations ticked higher.
GBP/USD slips back to 1.3250 on USD-buying
GBP/USD recedes to the mid-1.3200s on Friday session, as the Greenback regains ground against the broadeer risk-linked universe. Supporting the upside in the US Dollar comes a rise in US consumer inflation expectations, according to the latest data from the U-Mich survey.
Gold looks depressed below $3,200
Gold reversed course on Friday, falling sharply below the $3,200 mark after Thursday’s strong rally. The retreat came as a resurgent US Dollar and easing geopolitical tensions weighed on demand for the safe-haven metal. Furthermore, XAU/USD remained under pressure and is on track to log its biggest weekly loss of the year.
Is Ethereum's comeback real?
Ethereum price hovers above $2,500 on Friday after soaring nearly 100% since early April's bottom. The ETH Pectra upgrade has boosted over 11,000 EIP-7702 authorizations in a week, indicating healthy uptake by wallets and dApps.
Trump’s Middle East dealmaking blitz: What does it mean for investors?
President Donald Trump’s May 2025 Middle East visit has unleashed a flurry of mega-deals, aimed at deepening U.S. trade ties, correcting trade imbalances, and reinforcing America’s leadership in defense and technology exports.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.