Nasdaqfuture
Elliott Wave View on Nasdaq (NQ) Calling the Next Bullish Leg upShort term Elliott Wave view on Nasdaq (NQ) shows that rally from 8.5.2024 low is unfolding as a 5 waves impulse. Up from 8.5.2024 low, wave (1) ended at 20025.25. Pullback in wave (2) ended at 18338.45 with internal subdivision as a double three Elliott Wave structure. Down from wave (1), wave W ended at 19140.25 and wave X ended at 19693.50. Wave Y lower unfolded as another double three in lesser degree. Down from wave X, wave ((w)) ended at 18825.75 and wave ((x)) ended at 19150.50. Wave ((y)) lower ended at 18338.45 which completed wave Y of (2) in higher degree.
The Index has turned higher in wave (3) with internal subdivision as a 5 waves impulse. Up from wave (2), wave ((i)) ended at 18927.5 and pullback in wave ((ii)) ended at 18547. Wave ((iii)) higher ended at 19813.50 and pullback in wave ((iv)) ended at 19529. Near term, expect Index to extend higher to end wave ((v)) and this should complete wave 1 in higher degree. Afterwards, it should pullback in wave 2 to correct cycle from 9.7.2024 low in 3, 7, 11 swing before it resumes higher.
NQ holds near-term bottom@11800;rally into FMOC bef a final dumpWith TSLA, AAPL & NVDA rallying on a risk-on Monday, NQ seems to be making positive divergences similar to June but this needs some follow-thru this week. It is holding 11800 with Friday”s hammer candle suggesting a shortterm low for the month. MACD also crossed into green territory. Another Diamond reversal pattern MAY be forming similar to June?
BULLISH SCENARIO: My Elliott wave count would suggest a June low is in with the ABC correction ended. BUT I may be wrong logically with a 75 to 100 basis-point rate hike coming in Sept even with the market already pricing in a 75 pt hike. BUT MARKET IS IRRATIONAL. NQ may rally into Sept FOMC rate hike near 13k & then make a final dump on last week of Sept from an overbought condition. (NQ has to go above 13740 to confirm a higher high) No one knows where the final bottom will be before a Santa Claus rally. Possible supports are ma50, 12200 to remain within the upchannel or perhaps a retest of 11800 with the HHHL remaining intact.
BEARISH CASE: NQ may rally into Sept FOMC but still comes back down to make a lower low than either
11800 or the June low. In this case, the positive divergence may extend up to an October rally. If 11800 or the June low of 11068 breaks, then the next stop will be the 10900 to 10500 yellow zone.
Not trading advice
NAS DAQ 100 E-MINI FUTURES (NQ1!), H4 Potential for Bullish RiseType : Bullish Rise
Resistance : 13427.50
Pivot: 12951.50
Support : 12691.50
Preferred Case: On the H4, with price expected to bounce off the stochastic support, we have a bullish bias that price will rise from our pivot at 12951.50 where the pullback support, 23.6% fibonacci retracement and 78.6% fibonacci projection are to the 1st resistance at 13427.50 where the swing high resistance and 127.2% fibonacci extension are.
Alternative scenario: Alternatively, price could break pivot structure and drop to 1st support at 12691.50 where the pullback support, 38.2% fibonacci retracement and 100% fibonacci projection are.
Fundamentals: Due to the looming inflation report and struggle of its chip stocks, we have a bearish view on the Nas daq indice. We'll need to exercise caution for this setup because our fundamentals and technicals are not completely aligned.
NASDAQ 100 E-MINI FUTURES (NQ1!), H1 Potential for Bullish RiseType : Bullish Rise
Resistance : 12261.50
Pivot: 11973.00
Support : 11745.25
Preferred Case: On the H4, with price moving above the ichimoku cloud and has broken through the descending trendline, we have a bullish bias that price will rise to the pivot at 11973.00 in line with the pullback resistance and 78.6% fibonacci retracement . Once we have upside confirmation that price has broken past pivot , we would expect bullish momentum to carry price to the 1st resistance at 12261.50 where the swing high resistance and 100% fibonacci projection are.
Alternative scenario: Alternatively, price may drop to the 1st support level at 11745.25 in line with the pullback support, 38.2% fibonacci retracement and 61.8% fibonacci projection .
Fundamentals: No Major News
NQ Power Range Report with FIB Ext - 12/28/2020 SessionContract - CME_MINI:MNQH2021
- High - 12750.75
- Low - 12651.75
Current Stats
- Gap: = N/A
- Session Open ATR: 183.55
- Volume: 22k
- Trend Grade: Bullish
Key Levels (Rounded - Think of these as a range)
- Long: 13337
- Short: 10650
Keep in mind this is not speculation or a prediction. Only a report of the Power Range with Fib extensions for target hunting. Do your DD! You determine your risk tolerance. You are fully capable of making your own decisions.
NQ Power Range Report with FIB Ext - 12/9/2020 SessionContract - CME_MINI:NQZ2020
- High - 12674.75
- Low - 12640.75
Current Stats
- Gap: = +0.08%
- Session Open ATR: 194.05
- Volume: 19k
- Trend Grade: Bullish
Key Levels (Rounded - Think of these as a range)
- Long: 13337
- Short: 10650
Keep in mind this is not speculation or a prediction. Only a report of the Power Range with Fib extensions for target hunting. Do your DD! You determine your risk tolerance. You are fully capable of making your own decisions.
NASDAQ LONG, Elliot Wave 4 complex WXY correction completion. As title suggests, we have completed an Elliot complex WXY ( 5 - WXY - 5 structure: 3 seperate timeframes).
This analysis on the NQ100 NASDAQ futures.
I am expecting a sharp rally this week. A retest of ATH, and fail.
I then expect to see a 3 wave pullback off this 5 wave impulsive move up from lows.
That making a 5, and a 3. Then another 5 wave move up to break ATH's.
This will infact be an inverse zig zag correction from the COVID 19 lows which is in fact an exact fractal of the current wave 4 completion I am highlighting in this post.
Inspect this comples WXY wave for I have described in my post. We will see this exact pattern (fractal) replay itself out on a much much larger time frame over the coming months.
nasdaq makin inverse cup and handle nasdaq or usa 100 making inverse cup and handle it may fall till 9360 let see and tell me in comment am i right or wrong