US100 (NASDAQ) Technical Analysis
📆 Daily Chart (1D)
🧭 Updated: April 15, 2025
🟠 General Context and Structure
The price reached a high of 22,236.5, completing an ascending wedge (orange lines), which was broken down with strong volume and bearish momentum, signaling a change in the larger structure.
After the collapse from that high, the index formed what appears to be a W wave within a complex corrective structure (WXY), completing in the 16,176.3–16,992.2 range.
🌀 Elliott Wave Structure (Projection)
We are currently seeing the development of the upward corrective wave X, which appears to be structuring as a 5-wave impulse:
(1) and (2) already completed
Projection of (3), (4), and (5) with a target in the 21,025.9 area
After this upward movement, the start of a downward correction (a)-(b)-(c) is expected, which would complete the bearish wave Y of the broader WXY pattern.
🔍 Key Support and Resistance Zones
🔴 Major resistance: 22,239 – 22,236.5 (Highs and strong rejection zone)
⚪ Intermediate resistance: 20,356.6 and 21,025.9 (Potential targets for wave X)
⚪ Intermediate support: 18,523 (Zone where wave (4) could form)
🟢 Strong support:
16,992.2 and 16,176.3 (base of wave W)
14,054.4 (potential target for wave Y, critical point)
12,719.4 (extreme extension if the decline intensifies)
📉 Movement Projection
Current bullish reaction remains impulsive → wave (3) is underway.
Possible extension to 21,025.9 before a reversal.
Drop in 3 waves (a)-(b)-(c) towards:
🎯 First bearish target: 16,176
🎯 Second (final) target: approximately 14,580 (area marked as the end of wave Y)
⚠️ Conclusion / Trading Idea
We are seeing a complex WXY-type correction developing. The most likely scenario suggests a bullish continuation towards 21,025 to complete wave X, followed by a sharp drop towards the 14,580 area.
📌 Possible trading plan:
Swing long to 21,025 if the momentum is confirmed.
Strong short from that area, looking for targets towards 16,000 – 14,580 in the coming months.
🧭 Risk Management
Stop loss above the all-time high of 22,236.5 for short positions.
Bearish confirmation after reversal structure at 21k.
📆 Daily Chart (1D)
🧭 Updated: April 15, 2025
🟠 General Context and Structure
The price reached a high of 22,236.5, completing an ascending wedge (orange lines), which was broken down with strong volume and bearish momentum, signaling a change in the larger structure.
After the collapse from that high, the index formed what appears to be a W wave within a complex corrective structure (WXY), completing in the 16,176.3–16,992.2 range.
🌀 Elliott Wave Structure (Projection)
We are currently seeing the development of the upward corrective wave X, which appears to be structuring as a 5-wave impulse:
(1) and (2) already completed
Projection of (3), (4), and (5) with a target in the 21,025.9 area
After this upward movement, the start of a downward correction (a)-(b)-(c) is expected, which would complete the bearish wave Y of the broader WXY pattern.
🔍 Key Support and Resistance Zones
🔴 Major resistance: 22,239 – 22,236.5 (Highs and strong rejection zone)
⚪ Intermediate resistance: 20,356.6 and 21,025.9 (Potential targets for wave X)
⚪ Intermediate support: 18,523 (Zone where wave (4) could form)
🟢 Strong support:
16,992.2 and 16,176.3 (base of wave W)
14,054.4 (potential target for wave Y, critical point)
12,719.4 (extreme extension if the decline intensifies)
📉 Movement Projection
Current bullish reaction remains impulsive → wave (3) is underway.
Possible extension to 21,025.9 before a reversal.
Drop in 3 waves (a)-(b)-(c) towards:
🎯 First bearish target: 16,176
🎯 Second (final) target: approximately 14,580 (area marked as the end of wave Y)
⚠️ Conclusion / Trading Idea
We are seeing a complex WXY-type correction developing. The most likely scenario suggests a bullish continuation towards 21,025 to complete wave X, followed by a sharp drop towards the 14,580 area.
📌 Possible trading plan:
Swing long to 21,025 if the momentum is confirmed.
Strong short from that area, looking for targets towards 16,000 – 14,580 in the coming months.
🧭 Risk Management
Stop loss above the all-time high of 22,236.5 for short positions.
Bearish confirmation after reversal structure at 21k.
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.
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.