NASDAQ Index Elliott Wave technical analysis [Video]

NASDAQ Elliott Wave analysis – Day chart.

NASDAQ Elliott Wave technical analysis

• Function: Bullish Trend.

• Mode: Impulsive.

• Structure: Orange Wave 5.

• Position: Navy Blue Wave 1.

• Direction Next Higher Degree: Orange Wave 5 (Started).

Analysis overview

The NASDAQ Elliott Wave Analysis for the day chart highlights a bullish trend, with the market currently in an impulsive mode. The wave structure identifies the market as being in Orange Wave 5, which is part of a larger upward movement within Navy Blue Wave 1. This suggests a strong bullish phase, consistent with impulsive wave characteristics.

The next higher-degree movement anticipated is the continuation of Orange Wave 5, which has already started and is expected to drive the market further in the direction of the larger trend.

Wave structure & market outlook

• Orange Wave 4 has likely concluded, and the market is now progressing through Orange Wave 5.

• Orange Wave 5 is expected to exhibit strong upward momentum, aligning with the impulsive nature of the trend.

• Traders should monitor the development of Orange Wave 5, as its completion may indicate the potential start of a new market phase.

• The completion of Orange Wave 5 will be critical, providing insights into the timing and direction of the next higher-degree wave.

Key takeaways for traders

• The NASDAQ is currently experiencing strong bullish momentum, supported by Orange Wave 5 within Navy Blue Wave 1.

• The completion of Orange Wave 5 will provide valuable insights into the next phase of market development.

• Traders should focus on key resistance and support levels, as they can help determine potential breakout or reversal points.

Conclusion

NASDAQ is currently in a bullish phase, with Orange Wave 5 in play following the completion of Orange Wave 4. This impulsive movement is part of the broader Navy Blue Wave 1, with the next significant move expected to be the continuation of Orange Wave 5.

Traders should monitor the progress of Orange Wave 5 closely, as it will provide key insights into the market’s next phase. This analysis underscores the importance of understanding Elliott Wave structures to anticipate potential market movements and optimize trading strategies accordingly.

NASDAQ Elliott Wave Analysis – Weekly chart.

NASDAQ Elliott Wave technical analysis

• Function: Bullish Trend.

• Mode: Impulsive.

• Structure: Orange Wave 5.

• Position: Navy Blue Wave 1.

• Direction Next Higher Degree: Orange Wave 5 (Started).

Analysis overview

The NASDAQ Elliott Wave Analysis for the weekly chart indicates a bullish trend, with the market currently in an impulsive mode. The wave structure identifies Orange Wave 5, which is part of a broader upward movement within Navy Blue Wave 1. This suggests that the market is in a strong upward phase, characteristic of an impulsive Elliott Wave structure.

The next higher-degree movement expected is the continuation of Orange Wave 5, which has already started and is likely to drive the market further upward.

Wave structure & market outlook

• Orange Wave 4 has concluded, allowing the market to progress into Orange Wave 5, which is currently unfolding.

• Orange Wave 5 is expected to exhibit strong bullish momentum, consistent with an impulsive market trend.

• Traders should monitor the development of Orange Wave 5, as its completion will signal the potential start of a new market phase.

• The completion of Orange Wave 5 will be a key turning point, providing insights into the timing and direction of the next higher-degree wave movement.

Key takeaways for traders

• NASDAQ is in a strong bullish phase, supported by Orange Wave 5 within Navy Blue Wave 1.

• Completion of Orange Wave 5 will provide key insights into the next phase of market movement.

• Traders should pay close attention to resistance and support levels, which can help determine potential breakout or correction zones.

Conclusion

NASDAQ is currently experiencing a strong bullish trend, with Orange Wave 5 in play following the completion of Orange Wave 4. This impulsive movement is part of the Navy Blue Wave 1 structure, and the next major move is anticipated to be the continuation of Orange Wave 5.

Traders should keep a close watch on the progression of Orange Wave 5, as it will offer crucial insights into market direction and potential trading opportunities. This analysis highlights the importance of understanding Elliott Wave structures to predict market movements and make strategic trading decisions.

Technical analyst: Malik Awais.

NASDAQ Elliott Wave technical analysis [Video]