Elliott Wave View: Nasdaq (NQ) May End 3 Swing Rally Soon


Short term Elliott Wave View in Nasdaq (NQ) shows an incomplete bearish sequence from 11.22.2021 high favoring further downside. Short term, rally from 10.13.2022 low is unfolding as a . Up from 10.13.2022 low, wave A ended at 11734 and pullback in wave B ended at 10636. Wave C higher is in progress as a 5 waves impulse structure before the Index turns lower again.

Up from wave B, wave ((i)) ended at 11231.25 and pullback in wave ((ii)) ended at 10808. Index then rallies again in wave ((iii)) towards 11876.75. Wave ((iv)) is now in progress to correct cycle from 11.10.2022 low in 3, 7, or 11 swing before the rally resumes. Internal subdivision of wave ((iv)) takes the form of an expanded flat. Down from wave ((iii)), wave (a) ended at 11702 and rally in wave (b) ended at 11898.50. Expect wave (c) to end soon which also completes wave ((iv)). Afterwards, as far as pivot at 10636.55 low stays intact, expect the Index to extend higher 1 more leg. Potential target is a 100% – 161.8% Fibonacci extension from 10.13.2022 low which comes at 11870 – 12632 area.

NQ 45 Minutes Elliott Wave Chart

Nasdaq (NQ) Elliott Wave Video

#elliottwave #trading #nasdaq

Elliott Forecast
Elliott Forecast (by EME PROCESSING AND CONSULTING LLC) was founded in 2005 by Eric Morera. Since inception our company has provided tailored Financial Market Services to thousands of clients. ElliottWave-Forecast has built a reputation on accurate technical analysis and a winning attitude. By successfully incorporating the Elliott Wave Theory with Market Correlation, Cycles, Proprietary Pivot System, we provide precise forecasts with up-to-date analysis for 52 instruments including FX majors, Gold, Silver, Copper, Oil, TNX and major Equity Indices. Our clients also have immediate access to our proprietary Actionable Trade Setups, Market Overview, 1 Hour, 4 Hour, Daily & Weekly Wave Counts. Weekend Webinar, Live Screen Sharing Sessions, Daily Technical Videos, Educational Resources, and 24 Hour chat room where they are provided live updates and given answers to their questions. 

Other Reports from Elliott Forecast

ResearchPool Subscriptions

Get the most out of your insights

Get in touch