Nasdaq Intraday Elliott Wave view suggests that Intermediate wave (3) ended with the rally to 6429.5. Intermediate wave (4) pullback remains in progress to correct cycle from 8/21 low (5753.6) in 3, 7, or 11 swing before the rally resumes. Intermediate wave (4) is unfolding as a double three Elliott wave structure where Minor wave W ended at 6246 and Minor wave X ended at 6391.75. Minor wave Y of (4) is currently in progress towards 6096.24 – 6209.28 area. Afterwards, Index should resume the rally higher or bounce in 3 waves at minimum. We don’t like selling the proposed pullback and expect buyers to appear from the above area for at least a 3 waves bounce provided that pivot at 8/21 low (5753.6) stays intact.
FWP Network > Forexhound.com > Analysis > Stock Market Analysis > Indices > Nasdaq Elliott Wave Analysis 12.6.2017
Nasdaq Elliott Wave Analysis 12.6.2017
By Elliottwave-Forecast.com ()
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December 6, 2017
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Comments Off on Nasdaq Elliott Wave Analysis 12.6.2017
Indices · COMPQ, Elliott Wave Theory, ElliottWave, indices, NASDAQ, NDX, QQQ, SPX
Indices · COMPQ, Elliott Wave Theory, ElliottWave, indices, NASDAQ, NDX, QQQ, SPX

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