All the indices are exhibiting similar intraday patterns, following a larger corrective wave four formation. I anticipate another new low later this week. While we might see some upward movement during Monday’s trading session, I recommend avoiding long swing trades and instead focusing on scalping opportunities.
Elliott Wave analysis Nasdaq tech stocks:
SP500 (SPX): Wave 4).
NASDAQ 100 (NDX): Wave 4).
Apple (AAPL): Wave 4).
Amazon (AMZN): Wave (4).
NVIDIA (NVDA): Wave (2).
Meta Platforms (META): Wave (4).
Netflix (NFLX): Wave 4.
Alphabet (GOOGL): Wave (4).
Microsoft MSFT: Wave 4).
Tesla (TSLA): Wave (4).
Bitcoin: Wave (4).
Financial events
Monday, January 6:
Retail Sales (Year-over-Year) data for December in the United States.
Source: https://www.fxstreet.com/news/expert-elliott-wave-trading-strategies-spx-ndx-aapl-tsla-and-more-video-202501060533