|

Nikkei ($NKD_F) should find extreme in wave 4 pullback soon [Video]

The Short term view in Nikkei futures ticket symbol: $NKD_F suggests that the index is doing a bigger pullback in wave (4) to correct the cycle from the 03 January 2023 low. The index is expected to find the extreme in the pullback soon. Before it can start the next leg higher or it does a 3-wave reaction higher at least. So far the pullback from the peak is unfolding as Elliott wave zigzag correction where wave A ended at 31800 low. Up from there, wave B bounce unfolded in a lesser degree flat correction with wave ((a)) completed at 33260 high. Wave ((b)) ended at 32030 low and then wave ((c)) ended in a lesser degree 5 waves at 33502 high thus completing wave B.

Down from there, the index made a new low below the previous wave A low. And confirmed the next extension in the C leg lower. Whereas the wave ((i)) ended at 31690 low in a lesser degree 5 waves impulse sequence. Above from there, the index is doing a bounce in wave ((ii)) in a lesser degree zigzag structure. Where small wave (a) ended at 32310. Wave (b) ended at 31820 and wave (c) should end between 32455- 32849 100%-161.8% Fibonacci extension area of (a)-(b). From there, the index is expected to resume the decline for a push towards 31274- 30748 bigger extreme area before it could resume higher again or ends up doing a 3-wave bounce minimum. Near-term, as far as bounces fail below 33502 high expect index to extend in C leg lower.

Nikkei 1 hour Elliott Wave chart from 8.08.2023

Nikkei Elliott Wave video

Author

Elliott Wave Forecast Team

Elliott Wave Forecast Team

ElliottWave-Forecast.com

More from Elliott Wave Forecast Team
Share:

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

By subscribing you agree to our Terms and conditions.

Editor's Picks

EUR/USD gathers recovery momentum, trades near 1.1750

Following the correction seen in the second half of the previous week, EUR/USD gathers bullish momentum and trades in positive territory near 1.1750. The US Dollar (USD) struggles to attract buyers and supports the pair as investors await Tuesday's GDP data ahead of the Christmas holiday. 

GBP/USD knocks ten-week highs ahead of holiday slowdown

GBP/USD found room on the high side on Monday, kicking off a holiday-shortened trading week with a fresh spat of Greenback weakness, bolstering the Pound Sterling into its highest bids in ten weeks. Pound traders are largely brushing off the latest interest rate cut from the Bank of England as the UK’s central bank policy strategy leaves the water murky for rate-cut watchers.

Gold buying remains unabated; fresh all-time peak and counting

Gold builds on the previous day's blowout rally through the $4,400 mark and continues scaling new record highs through the Asian session on Tuesday. Bets for more interest rate cuts by the US Fed, renewed US Dollar selling bias, and rising geopolitical uncertainties turn out to be key factors driving flows towards the bullion. Traders now look to the delayed release of the revised US Q3 GDP print and US Durable Goods Orders for a fresh impetus.

Year ahead 2026: Where will Bitcoin be in a year’s time?

Bitcoin, which accounts for roughly 60% of total crypto market capitalization, entered 2025 with unstoppable momentum under a crypto‑friendly Trump administration. The rally was supported by major regulatory wins and accelerating institutional adoption.

Ten questions that matter going into 2026

2026 may be less about a neat “base case” and more about a regime shift—the market can reprice what matters most (growth, inflation, fiscal, geopolitics, concentration). The biggest trap is false comfort: the same trades can look defensive… right up until they become crowded.

XRP steadies above $1.90 support as fund inflows and retail demand rise

Ripple (XRP) is stable above support at $1.90 at the time of writing on Monday, after several attempts to break above the $2.00 hurdle failed to materialize last week. Meanwhile, institutional interest in the cross-border remittance token has remained steady.