NASDAQ 100 Elliott Wave Update โ€“ Wave (5) in Play?

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NQ1!
๐Ÿ“Š NASDAQ 100 E-mini Futures โ€“ Elliott Wave Analysis
๐Ÿ—“๏ธ Weekly Chart โ€“ April 2025

The NASDAQ 100 appears to have completed an ABC corrective pattern, marking the end of wave (4). A bullish move toward wave (5) is now projected, with a potential target zone highlighted in yellow:

๐ŸŽฏ Target 1: 32,291 (100% extension)

๐ŸŽฏ Target 2: 38,678 (127% extension)

This zone marks the Fibonacci projection for the fifth wave, based on the Elliott Wave principle. The bullish structure remains valid as long as the key support at 16,551 holds.

๐Ÿ”Ž Key things to watch:

Confirmation of a reversal at wave (C) low

Increasing volume on upward moves

Momentum indicators like RSI / MACD

Penafian

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