03Mar

NASDAQ Elliott Wave Analysis: Stock Market Trends, Impulse Wave Forecast, Trading Strategies, and Key Resistance & Support Levels

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 daily chart indicates a strong bullish trend, with the market positioned in an impulsive wave structure. The current wave pattern identifies Orange Wave 5, progressing within Navy Blue Wave 1. This signals a continuation of upward momentum, aligning with the impulsive nature of the trend.

The next higher-degree movement is the further development of Orange Wave 5, which has already begun and is anticipated to push the market higher in alignment with the broader trend.

Wave Structure & Market Outlook

  • Orange Wave 4 has likely completed, and the market is now advancing through Orange Wave 5.
  • Orange Wave 5 is expected to maintain strong upward momentum, characteristic of an impulsive Elliott Wave structure.
  • Traders should monitor the progress of Orange Wave 5, as its completion may indicate the transition into a new market phase.
  • The completion of Orange Wave 5 will be a key event, offering insights into the timing and direction of the next Elliott Wave cycle.

Key Takeaways for Traders

  • The NASDAQ is currently experiencing 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 movement.
  • Key resistance and support levels should be closely monitored, as they can indicate potential breakout or reversal points.

Conclusion

NASDAQ is currently in a bullish Elliott Wave phase, with Orange Wave 5 unfolding after the conclusion of Orange Wave 4. This impulsive movement aligns with the larger Navy Blue Wave 1, and the next significant development will be the continuation of Orange Wave 5.

Traders should track the progress of Orange Wave 5, as it will offer critical insights into market direction. Understanding Elliott Wave structures is essential for anticipating market trends and optimizing trading strategies.

NASDAQ-index-daily-c...


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 confirms a strong bullish trend, with the market positioned in an impulsive wave structure. The current wave formation identifies Orange Wave 5, developing within Navy Blue Wave 1, signaling a continued upward trend in alignment with Elliott Wave principles.

The next higher-degree movement is the further development of Orange Wave 5, which has already begun and is expected to propel the market higher.

Wave Structure & Market Outlook

  • Orange Wave 4 has completed, allowing the market to enter Orange Wave 5, which is currently developing.
  • Orange Wave 5 is expected to sustain strong bullish momentum, in line with the impulsive nature of the market trend.
  • Traders should closely observe the formation of Orange Wave 5, as its completion may indicate a shift into a new market phase.
  • The completion of Orange Wave 5 will serve as a crucial turning point, providing insights into the timing and direction of the next Elliott Wave cycle.

Key Takeaways for Traders

  • The NASDAQ is currently experiencing strong bullish momentum, backed by Orange Wave 5 within Navy Blue Wave 1.
  • The completion of Orange Wave 5 will offer key insights into the next stage of the market trend.
  • Monitoring support and resistance levels is essential, as they can provide clues about potential breakout or correction points.

Conclusion

NASDAQ is in a bullish Elliott Wave phase, with Orange Wave 5 actively developing after Orange Wave 4’s completion. This impulsive movement remains within the broader Navy Blue Wave 1 structure, with the next key market move expected to be the continued growth of Orange Wave 5.

Traders should closely track the progress of Orange Wave 5, as it will provide critical insights into future market direction and potential trading opportunities. This analysis underscores the importance of understanding Elliott Wave structures for predicting market trends and making informed trading decisions.

Technical Analyst: Malik Awais

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

Previous: FTSE 100 (UK) Elliott Wave Technical Analysis

VALUE Offer - Buy 1 Month & Get 3 Months!Click here

Access 7 Analysts Over 200 Markets Covered. Chat Room With Support

NASDAQ-index-weekly-...

Related

Berkshire Hathaway Inc.(BRK.B:NYSE) Elliott Wave Technical Analysis 30 October 23

Berkshire Hathaway Inc.(BRK.B:NYSE) Elliott Wave Technical Analysis 30 October 23

Berkshire Hathaway Inc.(BRK.B:NYSE) Elliott Wave Technical Analysis 30 October 23, Stock Market Anal...

Read More >
Binance Crypto Price News Today Elliott Wave Technical Analysis: Depth Cryptocurrency Analysis and BNBUSD Price Predictions

Binance Crypto Price News Today Elliott Wave Technical Analysis: Depth Cryptocurrency Analysis and BNBUSD Price Predictions

This article dives into BNBUSD Elliott Wave analysis, providing insights into Binance Coin’s potent...

Read More >
Ripple (XRPUSD) Elliott Wave Analysis Predicts Reversal as Wave 2 Nears Completion – Key Price Levels and Swing Strategy Inside

Ripple (XRPUSD) Elliott Wave Analysis Predicts Reversal as Wave 2 Nears Completion – Key Price Levels and Swing Strategy Inside

This analysis shows XRP in Wave 2 correction nearing completion. Traders should watch for a reversal...

Read More >
Computershare (ASX: CPU) Elliott Wave Forecast Highlights Bullish Wave (v) Breakout with Key Price Targets and Support Levels

Computershare (ASX: CPU) Elliott Wave Forecast Highlights Bullish Wave (v) Breakout with Key Price Targets and Support Levels

ASX: CPU may have completed wave (IV) and started wave (V) with bullish potential. See key levels an...

Read More >
Elliott Wave Analysis for ASX Unibail-Rodamco-Westfield: Reveals Bullish Fifth Wave Structure and Medium-Term Stock Forecast

Elliott Wave Analysis for ASX Unibail-Rodamco-Westfield: Reveals Bullish Fifth Wave Structure and Medium-Term Stock Forecast

Elliott Wave analysis reviews URW stock on the ASX, showing medium-term bullish potential. Wave stru...

Read More >
EURUSD Elliott Wave Analysis: Covers Essential Technical Analysis Techniques to help Improve Decision Making in the Forex Market

EURUSD Elliott Wave Analysis: Covers Essential Technical Analysis Techniques to help Improve Decision Making in the Forex Market

This article offers a detailed EURUSD Elliott Wave Analysis, providing traders with key insights int...

Read More >

$1 for 2 Weeks

then $29 a month!

What a Special Offer!

Trade Recommendations

Unleash the power of deversified trading with our comprehensive portfolio, covering 250+ markets:

  • Stock Trades
  • Crypto Trades
  • Forex Trades
  • Commodity Trades
Elliott Wave Analysis

Gain a competitive edge with expert insights and AI-powered Elliott Wave charting into:

  • Global Indices
  • US Stocks & ASX Stocks
  • Forex & Crypto
  • Commodities
Top-Notch Trading Tools

Equip yourself with the tools of success:

  • Real-time Chat rooms
  • Elliott Wave Algorithm
  • Portfolio tools
  • TradingLevels
  • Screener
  • Trading Game
7 Elliott Wave Analysts

Stay ahead of the market with daily charts and insightful videos
Your secret to strategic trading!

JOIN HERE


Welcome to TradingLounge (ASIC A.R.No. 321187), specialists in trades, trading education and technical analysis, covering stocks, indices, commodities, forex and cryptocurrencies.

When you join TradingLounge you have access to everything we offer, including trade tools, educational content and a social platform to chat with like-minded investors.

Read more

@Copyright 2024 by tradinglounge.com

Contact Us

Australian no: 02 4787 6020

International no: +61 (2) 47876020

Pay with:

Find us on