Image Source: The week ended with some confusion that I wasn’t necessarily expecting — that being the market putting in 5 waves down off of Friday’s highs. That tossed the cookies in the box a bit more, particularly as the futures market pushed to a new high above the minute wave 3 high just before it dropped in what I’m counting as 5 waves down.That being the reality, I still believe in the Nasdaq 100 reaching its ultimate goal, which is to finish the minor 5th and the intermediate 3rd waves. That being said, the expectation would then be that the action seen on the close on Friday is being labeled as still being within the small minute 4th wave, as marked on the charts.There seems to be plenty of fuel to add to either a continued rally (via earnings reports next week), or a slide lower (via a change in the geopolitical situations currently in the Ukraine and Israel/Iran conflicts).00:30:55More By This Author:Nasdaq 100 & S&P 500 Elliott Wave Update – Thursday, Oct 24Nasdaq 100 & S&P 500 Elliott Wave Update – Wednesday, Oct 23Nasdaq 100 & S&P 500 Elliott Wave Update – Tuesday, Oct 22
Weekly Technical Update: Nasdaq 100 – Sunday, Oct. 27
