NASDAQ Elliott Wave Analysis: Nesting Higher As Impulse

NASDAQ ticker symbol: $NQ_F short-term Elliott wave analysis suggests that the rally from 7/30 low ($7167.75) to $7505.25 high ended Intermediate wave (1). The internals of lesser degree cycles within Intermediate wave (1) unfolded as5 waves impulse structure. Down from there, the correction against that cycle in Intermediate wave (2) pullback is proposed complete at $7316.5 low. The subdivision of Intermediate wave (2) unfolded asdouble three structure. Where Minor wave W ended at $7378.25. The rally to $7479 high ended Minor wave X. And the decline to $7316.45 low ended Minor wave Y of (2).

Above from there, the NASDAQ has already made a new all-time high confirming the next extension higher in Intermediate wave (3) higher has started. The internals of the rally higher is unfolding as5 waves impulse structure. Where Minute wave ((i)) ended in 5 waves at $7433.5 high. Then the pullback to $7352 low ended Minute wave ((ii)) pullback as aFlat structure. Up from there, the index is nesting higher in Minute wave ((iii)) with lesser degree cycles showing 5 waveadvance. Near-term, as far as a pivot from $7316.45 low remains intact index is expected to see more upside. We dont like selling it and expect buyers to appear in 3, 7 or 11 swings against $7316.45 low in the first degree.

NASDAQ 1 Hour Elliott Wave Chart

NASDAQ Elliott Wave Analysis: Nesting Higher As Impulse

NASDAQ Elliott Wave Analysis: Nesting Higher As Impulse