NASDAQ Elliott Wave Analysis – Trading Lounge Day Chart

NASDAQ Elliott Wave Technical Analysis

Function: Trend

Mode: Impulsive

Structure: Navy Blue Wave 3

Position: Gray Wave 3

Next Lower Degree: Navy Blue Wave 4

Wave Invalidation Level: 18,295.9

NASDAQ Analysis Overview

The NASDAQ Elliott Wave analysis on the daily chart indicates the market is in a bullish trend. The current structure follows an impulsive pattern, unfolding as Navy Blue Wave 3. This advanced stage within Gray Wave 3 suggests increasing momentum, aligning with the theory that wave three trends exhibit robust and extended upward movement.

NASDAQ Wave Structure & Position

• Navy Blue Wave 2 has been completed, paving the way for Navy Blue Wave 3, which signifies ongoing upward strength. This phase typically supports continued bullish momentum.

• Upon the conclusion of Navy Blue Wave 3, the market will likely move into Navy Blue Wave 4, signaling a potential temporary correction before resuming its broader uptrend.

NASDAQ Key Details

• Current Market Status: The market has confirmed the end of Navy Blue Wave 2, with Navy Blue Wave 3 now active and driving upward momentum.

• Wave Cancel Invalidation: If the market falls below 18,295.9, the current wave analysis becomes invalid, requiring a revised outlook.

Summary

The NASDAQ remains in a strong bullish phase, supported by Navy Blue Wave 3. Analysts can expect further gains as long as the market trades above 18,295.9. Potential corrections may arise during the shift into Navy Blue Wave 4, but the overall uptrend remains intact.

NASDAQ Elliott Wave Analysis – Trading Lounge Weekly Chart

NASDAQ Index Elliott Wave Technical Analysis

Function: Trend

Mode: Impulsive

Structure: Gray Wave 3

Position: Orange Wave 5

Next Lower Degree: Gray Wave 4

Wave Invalidation Level: 18,295.9

NASDAQ Index Analysis Overview

The weekly Elliott Wave analysis shows the NASDAQ is in a strong upward trend with an impulsive structure. This movement within Gray Wave 3 has progressed to Orange Wave 5, indicating the impulse sequence is entering later stages.

NASDAQ Index Wave Structure & Position

• Gray Wave 2 is complete, and the market is now within Gray Wave 3, a phase known for strong bullish momentum.

• Following the conclusion of Gray Wave 3, the market is projected to transition into Gray Wave 4, which might bring a temporary pullback before the bullish trend resumes.

NASDAQ Index Key Details

• Current Market Status: Gray Wave 3 is still unfolding, pointing to continued upward momentum in the near term.

• Wave Cancel Invalidation: If the market drops below 18,295.9, the current wave count will need a reassessment, as it will be invalidated.

Summary

The NASDAQ's bullish trend remains intact, with Gray Wave 3 leading the market higher. Traders should anticipate further gains while preparing for a corrective phase during Gray Wave 4. As long as the market remains above 18,295.9, the uptrend outlook stays valid.

Technical Analyst: Malik Awais

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