Elliott Wave view: Nasdaq (NQ) has reached support area [Video]

Elliott Wave Forecast Team ElliottWave-Forecast.com

Nasdaq (NQ) has reached the extreme area from 12.16.2024 peak and thus the Index may see support soon for a 3 waves rally at least. Near term, decline from 2.18.2025 peak is in progress as a 5 waves diagonal. Down from 2.18.2025 peak, wave 1 ended at 22102.75 and wave 2 rally ended at 22299.75. The Index then nested lower in wave 3. Down from wave 2, wave ((i)) ended at 21951 and wave ((ii)) ended at 22245.5. The Index extended lower in wave ((iii)) towards 21652.75 and wave ((iv)) ended at 21813. Final wave ((v)) lower ended at 20990 which completed wave 3 in higher degree.

Wave 4 rally ended at 21409.25. Final wave 5 lower ended at 20460.5 which completed wave (1) of ((C)) in higher degree. Rally in wave (2) ended at 21123.53 and wave (3) lower ended at 20075.25. Rally in wave (4) is proposed complete at 20732.5. Near term, as far as pivot at 21123.53 high stays intact, expect the Index to extend lower in wave (5). The extreme area from 12.16.2024 peak comes at 19452 – 20543 where the current decline can end and the Index can see support.

Nasdaq (NQ) 60 Minutes Elliott Wave Chart

NQ [Video]

Author

Elliott Wave Forecast Team

ElliottWave-Forecast.com

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