09Dec

NASDAQ Elliott Wave Technical Analysis: Bullish Trends, Key Technical Levels, Navy Blue Wave 3 Insights, Market Momentum, and Trading Opportunities

NASDAQ Elliott Wave Analysis Trading Lounge Day Chart

NASDAQ Elliott Wave Technical Analysis

Function: Bullish Trend

Mode: Impulsive

Structure: Navy Blue Wave 3

Position: Gray Wave 3

Direction of Next Lower Degrees: Navy Blue Wave 4

Details

The NASDAQ daily chart showcases a detailed Elliott Wave analysis, signaling a bullish trend.

  • The ongoing wave structure is labeled as navy blue wave 3, a significant part of an impulsive sequence, with gray wave 3 actively progressing. This aligns with continued upward momentum in the market.
  • The conclusion of navy blue wave 2 has likely set the stage for the market to transition into navy blue wave 3. In Elliott Wave Theory, impulsive waves represent primary market drivers. The active navy blue wave 3 demonstrates robust bullish momentum, suggesting further price appreciation is probable.

Key Technical Level

  • Wave Cancellation/Invalidation Level: 20,332.6
    If the market breaches this level, the existing wave structure would require reassessment, possibly altering the current bullish outlook.

This analysis delivers traders a precise view of the NASDAQ’s upward trajectory. Emphasizing critical levels and sustained trends, it underscores the unfolding momentum driven by the impulsive wave. The active navy blue wave 3 reflects confidence in continued market strength.

NASDAQ-index-daily-c...


NASDAQ Elliott Wave Analysis Trading Lounge Weekly Chart

NASDAQ Elliott Wave Technical Analysis

Function: Bullish Trend

Mode: Impulsive

Structure: Gray Wave 3

Position: Orange Wave 5

Direction of Next Lower Degrees: Gray Wave 4

Details

The NASDAQ weekly chart offers comprehensive Elliott Wave analysis, reaffirming a bullish trend.

  • The present wave structure identifies gray wave 3 as part of an impulsive sequence, with orange wave 5 advancing. This demonstrates ongoing upward market momentum.
  • The conclusion of gray wave 2 has set the foundation for the progression of gray wave 3. According to Elliott Wave principles, impulsive waves reflect strong market trends, and the development of gray wave 3 supports a bullish outlook with potential for further gains.

Key Technical Level

  • Wave Cancellation/Invalidation Level: 20,332.6
    If the market falls below this threshold, the wave structure must be reevaluated, which could suggest a deviation from the bullish forecast.

This Elliott Wave analysis equips traders with valuable insights into the NASDAQ’s bullish momentum. Highlighting essential levels and market trends, it ensures clarity on the evolving impulsive wave structure. The active gray wave 3 strengthens confidence in the market's sustained growth trajectory.

Technical Analyst: Malik Awais

Source: visit Tradinglounge.com and learn From the Experts Join TradingLounge Here 

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