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

Peter Mathers TradingLounge

Market outlook

It appears that the recent correction in the SP500, NASDAQ 100, and leading tech stocks may be over. The bullish momentum from last Friday's close is likely to continue into Monday, signaling a potential "risk-on" environment. Meta (META) is leading this rally, while Nvidia (NVDA) is showing a clear Impulse Wave off its recent low. Aside from Microsoft (MSFT), most stocks appear ready for upward trades, with our long position on Netflix (NFLX) already triggered. Bitcoin (BTC) may also have found its wave 2 low, suggesting that long opportunities in cryptocurrency are emerging, which will be covered in our upcoming session video.

Video chapters

00:00 NASDAQ 100 (NDX). SP500 (SPX).
08:21 Apple (AAPL)
09:37 Amazon (AMZN)
10:22 NVIDIA (NVDA)
11:25 Meta Platforms (META)
15:54 Netflix (NFLX)
16:43 Alphabet (GOOGL)
18:03 Microsoft MSFT
19:08 Tesla (TSLA)
20:55 Bitcoin

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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