HomeContributorsTechnical AnalysisNasdaq 100 (NQ) Potential Support Area

Nasdaq 100 (NQ) Potential Support Area

Short Term Elliott Wave view in Nasdaq 100 (NQ) suggests that pullback to 18011.3 ended wave 4. The Index has turned higher in wave 5. Internal subdivision of wave 5 is unfolding as a diagonal. Up from wave 4, wave (i) ended at 18106.75 and wave (ii) ended at 18044. Wave (iii) higher ended at 18289.25 and wave (iv) ended at 18263.25. Final leg wave (v) ended at 18381 which completed wave ((i)). Pullback in wave ((ii)) ended at 18053.25 as a zigzag. The Index then resumed higher in wave ((iii)). Up from wave ((ii)), wave (i) ended at 18289.25 and wave (ii) ended at 18216.5. Wave (iii) higher ended at 18667.25 and wave (iv) ended at 18589.25. Final leg wave (v) ended at 18709 which completed wave ((iii)) in higher degree.

Wave ((iv)) pullback is in progress with internal subdivision as a double three. Down from wave ((iii)), wave a ended at 18492, wave b ended at 18626, and wave c lower ended at 18414.75. This completed wave (w) in higher degree. Rally in wave (x) ended at 18619 as a zigzag structure. Down from wave (x), wave w ended at 18439.25, and wave x ended at 18571.75. Expect the Index to extend lower in wave y to 18145 -18327 (blue box area) to complete wave (y) of ((iv)). From this area, the Index should resume higher or rally in 3 waves at least.

NQ 45 Minutes Elliott Wave Chart

Nasdaq 100 (NQ) Elliott Wave Video


By loading the video, you agree to YouTube’s privacy policy.
Learn more

Load video

Elliott Wave Forecast
Elliott Wave Forecasthttps://elliottwave-forecast.com
ElliottWave-Forecast has built its reputation on accurate technical analysis and a winning attitude. By successfully incorporating the Elliott Wave Theory with Market Correlation, Cycles, Proprietary Pivot System, we provide precise forecasts with up-to-date analysis for 52 instruments including Forex majors & crosses, Commodities and a number of Equity Indices from around the World. Our clients also have immediate access to our proprietary Actionable Trade Setups, Market Overview, 1 Hour, 4 Hour, Daily & Weekly Wave Counts. Weekend Webinar, Live Screen Sharing Sessions, Daily Technical Videos, Elliott Wave Setup videos, Educational Resources, and 24 Hour chat room where they are provided live updates and given answers to their questions.

Featured Analysis

Learn Forex Trading