..read more

**S&P Elliott Wave Update – April 24, 2024** The S&P 500, a key benchmark for the broader market, has been showing promising signs of recovery, potentially indicating a reversal of the recent downtrend. **Key Highlights:** – **Confirmation of Bottom Formation:** For the S&P to confirm a bottom, it needs to establish a Wave 3 pattern targeting the 5,165 level. – **Fibonacci Projection:** Using Fibonacci analysis, a 1.618 extension from the recent bottom formation aligns perfectly with the 5,165 target for a Wave 3. This projection serves as a crucial level to watch, as it could vali ..read more

**TSLA Elliott Wave Update – April 24, 2024** Tesla, Inc. (TSLA), the electric vehicle and clean energy company, delivered a surprising and robust performance in its recent earnings report, defying many analysts’ expectations. The subsequent market reaction was overwhelmingly positive, reflecting renewed investor confidence in the company’s growth prospects. **Key Highlights:** – **Unexpected Surge Post-Earnings:** Contrary to widespread anticipation of poor performance, TSLA soared by an impressive 12% in after-hours trading following its earnings announcement. – **Key Resistance Level – 168 ..read more

**SMCI Elliott Wave Update – April 24, 2024** The stock market has been a whirlwind of activity lately, with many stocks experiencing significant volatility. Among these, SMCI (Super Micro Computer, Inc.) has shown notable strength and resilience, suggesting a potential turnaround in its Elliott Wave pattern. **Strong Reversal and Wave Formation** Today, SMCI exhibited a strong reversal, successfully forming both Wave 1 and Wave 2 off what appears to be a potential bottom. The formation of a clear 1-2-3 pattern is a positive sign, often indicative of a developing bullish trend. **Wave 3 Potent ..read more

**NVDA Elliott Wave Update – August 24, 2024** In the tumultuous landscape of the stock market, NVDA (NVIDIA Corporation) has emerged with a remarkable resilience that’s worth noting. The recent price action and wave patterns of NVDA suggest a potential turnaround and a possible confirmation of a bottom. **Powerful Reversal** NVDA has showcased a robust reversal, which has been strong enough to break through the .786 retracement level of the downward Wave 3. Such a powerful reversal often indicates significant buying interest and a shift in market sentiment towards the stock. **NASDAQ and S&am ..read more

**NASDAQ Elliott Wave Update – April 24, 2024** The NASDAQ Composite Index exhibited significant strength today, potentially marking a significant turning point in the recent market downturn. With the futures pointing upwards, there’s renewed optimism among traders and investors alike. **Key Highlights:** – **Follow-Through Momentum:** The NASDAQ continued its upward trajectory today, building on the positive momentum from the previous session. – **Futures Indication:** With the futures up by 130 points, there’s a strong possibility of the NASDAQ surpassing the critical resistance level of 15 ..read more

**SMCI Elliott Wave Update – April 23, 2024** Super Micro Computer, Inc. (SMCI), a significant player in the technology sector, has been under the microscope due to its recent price volatility. Let’s delve into the latest Elliott Wave analysis to understand the potential trajectory of SMCI’s stock. **Key Observations:** – **Support Break and Fibonacci Levels:** SMCI experienced a significant breach of the 700 support level, a crucial price point that had been closely watched by traders. However, the stock found support at the 615 level, corresponding to the .618 Fibonacci retracement level, be ..read more

**S&P 500 Elliott Wave Update – April 23, 2024** The S&P 500, a broad measure of U.S. equities, has also been navigating through choppy waters recently, grappling with market uncertainties and shifting investor sentiment. Let’s dive into the latest Elliott Wave analysis to decipher the index’s potential trajectory. **Key Observations:** – **Rally and Fibonacci Levels:** Today’s upward movement in the S&P 500 managed to surpass the .382 Fibonacci retracement level of the preceding downward 3 wave, extending into the .618 territory. This is a notable move and could indicate the poten ..read more

**NASDAQ Elliott Wave Update – April 23, 2024** The NASDAQ Composite, a barometer of technology and growth stocks, has been under significant pressure in recent sessions, reflecting broader market uncertainties and shifts in investor sentiment. Let’s delve into the latest Elliott Wave analysis to gauge where the index might be heading next. **Key Observations:** – **Recent Reversal:** From the recent high of 15,950 to the low of 15,222, representing the top of the B wave to the trough of the C wave, the index experienced a notable reversal today. This move retraced slightly above the .382 Fibo ..read more

**Quick Stock Updates – April 22, 2024** In the ever-evolving world of stock trading, staying updated on key technical levels and potential price movements is crucial for investors and traders alike. Here’s a concise overview of some major stocks and their respective Elliott Wave forecasts, highlighting key levels to watch for potential reversals or continuations. **MSFT (Microsoft)** – Current Status: Needs to rally to 404 to achieve a .382 retracement for Wave 4. – Implication: A successful rally to this level could signify renewed bullish momentum and a potential continuation of the uptrend ..read more