The short‑term Elliott Wave view in Nikkei Futures (NKD) shows the cycle from the July 29, 2026 low unfolding as a five‑wave diagonal. Wave 1 advanced to 69,660, followed by a corrective pullback in wave 2 that ended at 62,600. The Index then extended higher in wave 3, reaching 71,540. Currently, wave 4 is developing as a seven‑swing double three structure, reflecting a complex correction within the diagonal.
From the peak of wave 3, the decline formed wave ((w)), which ended at 69,235 as a zigzag. Afterward, wave ((x)) began a rally to correct the cycle from the October 6, 2026 high. Once this rally completes, the Index is expected to turn lower again in wave ((y)), finishing the larger wave 4 correction.
Near term, as long as the pivot at 64,946 remains intact, the pullback should find support within the seven‑swing structure. Corrective phases often reset momentum while preserving the broader bullish context. Thus, the outlook continues to favor additional upside once consolidation completes. The structure since late July remains constructive, and buyers are likely to re‑emerge after the current correction.
Nikkei (NKD) 60 Minute Elliott Wave Chart
NKD Elliott Wave Video
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