SP500 and Nasdaq Overview: We’re currently observing Elliott Wave pattern i of (iii) of iii) of 5 of (1) of I.

Market Momentum: Friday’s strong close suggests upward momentum heading into Monday, with Elliott Wave counts confirming this bullish trend.

Trading Strategy
Day Traders: Consider long positions for Monday.
Swing Traders: Continue holding long positions in alignment with the trend, likely until Wednesday or Thursday when we approach Wave v) of 5.

Detailed Analysis for Key Tech Stocks:
The Nasdaq stocks, including Apple (AAPL), Tesla (TSLA), Nvidia (NVDA), Microsoft (MSFT), Meta Platforms (META), Netflix (NFLX), Alphabet (GOOGL), and Bitcoin (BTC), are moving in sync with the broader indices on an intraday basis. However, Amazon (AMZN) is showing a more complex Wave 4 corrective pattern that may develop further before resuming the trend.

For detailed Elliott Wave counts and trading setups, watch the full analysis video.

Video Chapters
00:00 NASDAQ 100 (NDX) SP500 (SPX)
04:14 Apple (AAPL)
06:38 Amazon (AMZN)
09:20 NVIDIA (NVDA)
13:42 Meta Platforms (META)
15:43 Netflix (NFLX) 
18:23 Alphabet (GOOGL)
20:36 Microsoft MSFT
22:12 Tesla (TSLA)
24:12 Bitcoin
28:29 End

More By This Author:

Elliott Wave Technical Analysis: Gold - Friday, Aug. 23
Elliott Wave Technical Analysis: McDonald’s Corp. - Friday, Aug. 23
Unlocking ASX Trading Success: National Australia Bank Limited - Friday, Aug. 23