Elliott Wave Analysis and Trading Strategies for NASDAQ Stocks
Analysis overview
This week, we are tracking two bullish Elliott Wave counts for the NASDAQ 100 (NDX) and key tech stocks. These counts are closely aligned and will not significantly impact our next long trade setups. With the Federal Reserve meeting and Nvidia’s (NVDA) stock split on the horizon, markets are likely to edge higher but remain in a topping process. We will avoid initiating long trades until we see a clear top and the beginning of a corrective Wave 2 or Wave ii), setting the stage for a robust Wave 3 move.
Detailed analysis by stock
NASDAQ 100 (NDX):
– Tracking two bullish counts.
– Market is in a topping process.
– Awaiting a turn lower into Wave 2 or Wave ii).
Apple (AAPL):
– Showing strength but nearing a potential top.
– Will look for a corrective wave to establish long positions.
Tesla (TSLA):
– Bullish momentum continues.
– Watching for a topping pattern before Wave 2 correction.
Amazon (AMZN):
– In line with broader market trends.
– Awaiting a pullback into Wave 2 or Wave ii).
Nvidia (NVDA):
– Stock split is a key event.
– Expecting a topping process similar to NDX before Wave 2 correction.
Microsoft (MSFT):
– Tracking closely with NDX.
– Preparing for a pullback before the next long trade setup.
Meta Platforms (META):
– Aligns with overall market analysis.
– Watching for a corrective wave to position long.
Netflix (NFLX):
– Bullish counts remain valid.
– Awaiting Wave 2 or Wave ii) for the next entry.
Alphabet (GOOGL):
– In a similar topping process.
– Looking for a corrective phase before entering long trades.
Bitcoin (BTC):
– Following market trends with a bullish outlook.
– Monitoring for a corrective wave to position for Wave 1 of (5).
Trading strategy
We will refrain from calling long trades until we confirm a market top and observe a correction into Wave 2 or Wave ii). This approach ensures we are well-positioned to capitalize on the subsequent Wave 3 movement, aligning with our Elliott Wave analysis. Stay updated for real-time trade alerts and analysis as the market evolves.
Video chapters
00:00 NASDAQ 100 (NDX).
09:25 Apple (AAPL).
11:54 Amazon (AMZN).
13:24 NVIDIA (NVDA).
14:17 Meta Platforms (META).
15:21 Netflix (NFLX) .
16:11 Alphabet (GOOGL).
17:51 Microsoft MSFT.
18:46 Tesla (TSLA).
19:41 Bitcoin.
22:01 End.
