Nasdaq – Weekly Analysis
Those who heeded our Nasdaq call on April 22 have enjoyed a ~35% ride since. This weekly report reviews the latest signals and outlines any adjustments—along with probabilities for the next move.
CANDLES
Nasdaq remains bullish after the weekly close. Absent a sharp 2.6% drop on Monday, the 15D frame should also print a bullish continuation. Several short-term frames have entered overbought territory, which could trigger a pullback, though no decisive signal has appeared yet.
Short term: bullish, elevated pullback risk.
Mid/long term: bullish.
Statistical Analysis
The long term statistical analysis posted on the last day of May remains intact.
Elliott Waves
Mid Term
The green path remains primary. The blue alternative stays on the table, but its probability is not high yet. If momentum holds, the blue could become primary within a few weeks.
SUMMARY
Nasdaq remains long-term bullish after the August close. After the expected early-September wobble, it’s rallying into the second half. The weekly, monthly, and larger frames are bullish with solid technical support. Overall, statistics, technicals, and trend structure continue to favor a sustained rally, though there is some risk of short-term weakness.
Happy Trading!
