US Tech 100 resurgence driven by AI trade
The US Tech 100 has shown impressive strength, with a 1.6% overnight gain. From an Elliott wave perspective, we’ve seen a three-wave pullback to 16,542, signaling a correction.
Given the impulsive characteristics and resurgence of artificial intelligence (AI) investments, the index could retest record highs as market focus returns to AI-related investments.
Bitcoin consolidating before potential new highs
Bitcoin has broken above its 200-day MA before entering a consolidation phase after four consecutive weeks of gains.
This consolidation could take it back toward 98,000, but the cryptocurrency will likely challenge its record high around 125,000 when this period ends. The outlook remains bullish.
