Nasdaq Futures (NQ) reached an all‑time high on October 30, 2025 at 26,399, which we identify as the completion of wave (1). The market then entered a corrective phase in wave (2), unfolding as a double‑three Elliott Wave structure. From the wave (1) peak, wave W declined to 23,904.5. A recovery in wave X followed and reached 26,349. The final leg lower in wave Y ended at 22,961.5, completing wave (2) in a higher degree.
With the correction finished, the Index has turned higher in wave (3). It still needs to break above the wave (1) high at 26,399 to fully rule out a double correction. From the wave (2) low, wave (i) advanced to 24,348.25. A pullback in wave (ii) then found support at 23,666. The Index is now progressing within wave (iii), which is expected to complete soon. A pullback in wave (iv) should follow before another advance in wave (v) to finish wave ((i)).
Once wave ((i)) ends, the Index should correct the cycle from the March 31 low in wave ((ii)). This would set the stage for another bullish phase. In the near term, the pivot at 22,961.5 remains a key level. As long as this level holds, any pullback should attract buyers in a three‑ or seven‑swing sequence, supporting the broader upside outlook.
Nasdaq Futures (NQ) 60-Minute Elliott Wave Chart
NQ Elliott Wave Video:
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 reached an all‑time high on October 30, 2025 at 26,399, which we identify as the completion of wave (1). The market then entered a corrective phase in wave (2), unfolding as a double‑three Elliott Wave structure. From the wave (1) peak, wave W declined to 23,904.5. A recovery in wave X followed and reached 26,349. The final leg lower in wave Y ended at 22,961.5, completing wave (2) in a higher degree.){kind=link}