Market Outlook Summary:
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Indices Expectation: The S&P 500 and Nasdaq are anticipated to rise in the upcoming Monday trading session. Key resistance levels are identified at 6,000 for the S&P 500 and 21,000 for the Nasdaq.
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Impact of Thanksgiving Holidays: The upcoming U.S. Thanksgiving holidays are expected to result in lower trading volumes. This decrease in activity may amplify the importance of the aforementioned resistance levels. A breakthrough above these levels could signify the formation of a Classic TradingLevels pattern, marking significant new highs.
Elliott Wave Analysis for Major Tech Stocks:
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S&P 500 (SPX): Currently in Wave c) of B of (A) of 4), suggesting a bullish move within a larger corrective phase.
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NASDAQ 100 (NDX): Mirrors SPX, also in Wave c) of B of (A) of 4).
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Apple (AAPL): Progressing through Wave c) of B of (2), indicating continued upward momentum.
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Amazon…
