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

Peter Mathers TradingLounge

NASDAQ Stock market Elliott Wave analysis and trading strategies: NASDAQ 100, Apple (AAPL), Tesla (TSLA), Amazon (AMZN), Nvidia (NVDA), Microsoft (MSFT), Meta Platforms (META), Netflix (NFLX), Alphabet (GOOGL).

Elliott Wave Analysis Update: Nasdaq 100's Wave c) of 2 is yet to be finalized. Most stocks mentioned in the video also need to decline to complete their patterns, likely requiring another trading session. After completion, we'll look for long trade opportunities, focusing on stocks highlighted in the video. Trading long involves buying at the last high in accordance with the classic tradinglevels pattern (TLCP). With a holiday on Monday, trade setups may occur late Tuesday or Wednesday morning.

Video chapters:

00:00 NASDAQ 100 (NDX)
01:15 Apple (AAPL)
02:25 Amazon (AMZN)
03:59 Meta Platforms (META)
06:12 NVIDIA (NVDA)
12:11 Netflix (NFLX)
13:09 Alphabet (GOOGL)
14:57 Microsoft MSFT
16:49 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.

GBP/USD remains offered near 1.3470

GBP/USD adds to the multi-day negative streak and retreats toward the 1.3470 zone on Wednesday, or four-week troughs. Cable’s deep correction comes on the back of the unabated recovery in the Greenback and the persistent geopolitical concerns.

EUR/USD bounces off lows; still below 1.1600 post-ADP

EUR/USD now manages to pick up some pace and revisits the 1.1580 region on Wednesday. That said, the pair rebounds from earlier two-week lows following some loss of momentum in the US Dollar soon after the ADP report came in short of expectations in August.

Gold treads water above $4,300

Following an earlier pullback to the $4,280 region per troy ounce, Gold prices now regain some composure and reclaim the $4,300 mark, advancing modestly for the day and setting aside three consecutive days of losses. The precious metal’s lacklustre rebound comes amid modest gains in the US Dollar, steady geopolitical uncertainty and mixed US Treasury yields.

WTI advances to mid-$90.00s, fresh high since July 24 amid escalating US-Iran tensions

West Texas Intermediate (WTI) – the benchmark US Crude Oil price – scales higher for the third straight day – also marking the fifth day of a positive move in the previous six – and climbs to a fresh high since July 24 during the Asian session on Wednesday.

Crypto Today: Bitcoin, Ethereum, XRP edge lower as renewed US-Iran tensions weigh

The cryptocurrency market is pulling back broadly on Wednesday as investors adopt a cautious stance, with Bitcoin consolidating near its short-term support at $77,000. Ethereum remains under pressure, slipping toward $2,400. Ripple is also trending lower.

Diesel’s record $100 warning: The oil shock hiding in plain sight

The Oil market may look calmer than it did a few months ago, but diesel is sending a very different message. The US diesel crack spread, the premium of ultra-low sulphur diesel futures over WTI, recently surged above $100 per barrel for the first time, reaching an intraday record of just over $102.00.