**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

**AMD Elliott Wave Update – April 22, 2024** Advanced Micro Devices (AMD), a prominent player in the semiconductor industry, has recently faced significant headwinds, finding itself at the epicenter of the market’s downturn. While the broader market has shown resilience in certain sectors, AMD has experienced pronounced weakness, prompting many to wonder about its future trajectory. In this Elliott Wave analysis, we’ll delve into the potential scenarios facing AMD and what they might signify for the broader market. AMD’s recent performance has been less than stellar, with the stock witnessing ..read more

**NVDA Elliott Wave Update – April 22, 2024** In the volatile world of stocks, identifying trends and patterns is crucial for investors looking to make informed decisions. Last Friday, NVIDIA (NVDA), a prominent player in the semiconductor sector, saw a significant decline of 10%. While this sharp drop might sound alarming to some, it raises an intriguing question: Could NVDA be the “last man standing” amidst a broader market downturn? The “last man standing” theory, a concept I’ve developed over years of observing market behavior, suggests that stocks which have demonstrated resilience by hol ..read more

**Super Micro Computer, Inc. (SMCI): Navigating the Elliott Waves at a Crucial Crossroads – April 22, 2024** In the dynamic landscape of stock trading, few scenarios captivate the attention of traders and investors alike more than a stock teetering on the edge of a potential market-defining moment. Super Micro Computer, Inc. (SMCI) finds itself at precisely such a juncture, presenting an intriguing Elliott Wave scenario that demands thorough analysis and strategic foresight. This article aims to dissect SMCI’s current Elliott Wave structure, providing insights into its recent performance, iden ..read more

**S&P Elliott Wave Update for April 22, 2024** The S&P 500 Index, a benchmark for the broader U.S. equity market, has recently exhibited a rare and extended Elliott Wave pattern that warrants careful analysis and attention from market participants. Here’s an in-depth analysis of the current Elliott Wave structure and associated technical indicators to shed light on potential market directions: **S&P Elliott Wave Analysis:** 1. **Wave Structure:** – **Extended 5th Wave:** The S&P has formed an extended 5th wave within the current C wave formation, which is a rare occurrence and ..read more

**S&P/DOW Elliott Wave Forecast for April 18, 2024** The S&P 500 and the Dow Jones Industrial Average (DOW) are two of the most closely watched stock market indices globally, and their recent price action has been under the scrutiny of Elliott Wave analysts for potential bottoming patterns. Let’s delve into the Elliott Wave counts and the associated technical indicators to assess the current market sentiment and potential future trajectories for both indices: **S&P 500 Elliott Wave Analysis:** 1. **Wave Structure:** – **Big C Wave:** The S&P 500 has completed the 5th wave down ..read more

**NASDAQ Elliott Wave Update for April 18, 2024** The NASDAQ Composite Index has been undergoing a complex correction phase over the past couple of months, exhibiting a multi-wave pattern that is characteristic of an ABC zigzag. Let’s dissect the recent Elliott Wave developments to gain insights into the potential future trajectory of the NASDAQ index: **Recent Price Movements and Elliott Wave Count:** 1. **Wave Structure:** – **ABC Zigzag:** The NASDAQ has completed what appears to be the 5th wave down within a C wave of a significant ABC zigzag correction that commenced a couple of months ag ..read more