The Elliott Wave Wednesday Live Stream w/ Todd Gordon
By Bennett Tindle
August 5, 2020
Welcome to another week of the Elliott Wave Live Stream show! In this week’s show, we go over AAPL, MSFT, SPX, & NDX. With the overall bullish patterns in the market. Stocks are looking strong for earning. We are seeing many online stocks sore higher. With Wayfair being up 400% since the lows. At home, entertainment stocks are doing well as many people are turning to video games for entertainment.
The S&P is looking to lead into an ending diagonal as we head to the election session. We are currently off -3% from all-time highs. The NDX is now +14% from its last all-time high.
Earning has been treating apple well with an upcoming split. The stock is now 12% from the last earning date. MSFT is another stock our team is looking at for strength to continue. AMD is having a great run a stock we had talked about many times on the show is now pushing 80$ with targets at 100$ our team is looking for upwards pressure to continue.
Aleksander gives a great breakdown of gold. As gold is currently the talk of the trading world, alek sees gold continuing to move higher in an impulsive manner. As we have been in a long term correction in gold.
The Dollar index has moved lower. We see a continuation of a lower dollar but we need to consolidate here first.
Another great week for the team at trading analysis join us every week for an in-depth show on major indexes, communities, forex, and more!
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Founder and Lead Analyst of Trading Analysis
Todd has been trading as a career for the last 20+ years. His goal is to not only provide insightful analysis, but to teach people how to think and grow as professional traders. Todd is a practitioner of Elliott Wave Theory and he uses it to gain an edge in the highly competitive trading arena. In addition to trading professionally, Todd has worked as an analyst and researcher at two different hedge funds. Click Here To Learn More about Todd Gordon