Elliott Wave analysis: NASDAQ tech stocks and major indices

SP500 (SPX) and NASDAQ 100 (NDX) – wave iii) of 5 of (1).

We’re currently in a trend trading strategy, waiting for the intermediate wave (2) low to form, which will take time as we are still approaching the top of wave (1), expected this week.

Day trading and scalping strategy

Focus on the long side, capitalizing on Friday’s bullish momentum. The ongoing trend from the August 5th low is projected to peak this week as Intermediate Wave (1).

Stock performance overview:

Apple (AAPL): Has shown strong alignment with the indices, trending higher.

Alphabet (GOOGL), Microsoft (MSFT), and Tesla (TSLA): These stocks have struggled to match the broader trend, but I’m monitoring how they might align with the overall pattern.

Outlook

The key focus is on the Intermediate Wave (2) as the next major trade opportunity, likely to occupy much of September.

Video chapters:

00:00 NASDAQ 100 (NDX) SP500 (SPX)
07:39 Apple (AAPL)
10:05 Amazon (AMZN)
11:17 NVIDIA (NVDA)
13:30 Meta Platforms (META)
14:39 Netflix (NFLX) 
16:35 Alphabet (GOOGL)
18:26 Microsoft MSFT
21:18 Tesla (TSLA)
22:39 Bitcoin