NASDAQ Elliott Wave Analysis Trading Lounge Day ChartNASDAQ Elliott Wave Technical Analysis
Analysis OverviewThe NASDAQ Elliott Wave analysis on the daily chart suggests the market is in a bullish trend with an impulsive wave structure, currently unfolding as navy blue wave 3. The ongoing movement places the market in gray wave 3, indicating the trend is gaining momentum in this advanced stage of the impulsive phase.Wave Structure & PositionWith navy blue wave 2 completed, the market is now progressing through navy blue wave 3, a wave associated with strong and sustained upward movement. According to Elliott Wave theory, this phase often indicates a continuation of the bullish trend. Once navy blue wave 3 concludes, the next phase will be navy blue wave 4, which might introduce a temporary correction before the broader uptrend resumes.Key Details
SummaryThe NASDAQ is in a strong upward trend, with navy blue wave 3 driving the current movement. Further gains are expected as long as the market remains above 18,295.9. Analysts should monitor for potential corrections as the market transitions into navy blue wave 4 in the near future.(Click on image to enlarge) NASDAQ Elliott Wave Analysis Trading Lounge Weekly ChartNASDAQ Elliott Wave Technical Analysis
Analysis OverviewThe NASDAQ Elliott Wave analysis on the weekly chart shows the market is in a strong upward trend, characterized by an impulsive wave structure currently unfolding within gray wave 3. The position within the wave cycle places the market in orange wave 5, indicating the trend is advancing toward the later stages of this impulse sequence.Wave Structure & PositionWith gray wave 2 completed, the market is now progressing through gray wave 3, typically associated with robust bullish momentum. This suggests that the upward trend is likely to continue. Once gray wave 3 concludes, the market is expected to enter gray wave 4, introducing a temporary corrective phase before the overall bullish trend resumes.Key Details
SummaryThe NASDAQ is currently in a strong upward trend, with gray wave 3 driving the market higher. Traders should expect further gains while monitoring for a potential correction when the market transitions into gray wave 4. The bullish outlook remains valid as long as the market stays above 18,295.9.(Click on image to enlarge)More By This Author:
