Like an onion, the Nasdaq-chart currently features multiple layers, and the index has processed them all. Hence, there is a 40% chance that it could directly continue the ascent it has already begun and climb above the resistance at 13740 points. However, we rather expect Nasdaq to drop below the support at 10890 points and thus to dive deeper into the blue zone between 11167 and 10043 points, where it should then finish wave (2) in yellow. Afterwards, the index should move upwards, crossing the resistance at 13740 points.
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📊 Free daily market insights combining macro + Elliott Wave analysis
🚀 Spot trends early with momentum, sentiment & price structure
🌐 Join thousands trading smarter - full free analyses at dailymarketupdate.com
🚀 Spot trends early with momentum, sentiment & price structure
🌐 Join thousands trading smarter - full free analyses at dailymarketupdate.com
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.