Nasdaq – Weekly Analysis
This Nasdaq update reviews the latest signals, flags any adjustments to the roadmap, and lays out the probabilities for what’s next. We’ll read the daily/2D/weekly candles and combos, check trend alignment across key moving averages, and assess momentum and breadth to separate noise from signal.
CANDLES
After last Friday’s hit, Nasdaq didn’t confirm a super-bearish follow-through. Instead, it spent five sessions building a base while holding above major supports, mitigating the prior weekly bearish candle. Weekly and smaller-frame trends remained bullish. On Friday, the daily printed a Piercing Line—widely read as a bullish reversal combo.
Short term: moderately bullish
Long term: bullish until reversed
Statistical Analysis
The long term statistical analysis posted on the last day of May remains intact.
Elliott Waves
Mid Term
The blue count remains primary for now, though the technical support differs only subtly from the green count.
Last Wave
I shared this projection yesterday on Discord. The green count holds a slight edge: it assumes the correction completed last Friday, the index spent most of the week forming a leading diagonal, and it’s now developing wave (iii).
However, if the index fails to print a new ATH in the next 1–2 days and reverses, an extended correction (possibly a flat in blue) comes back into play. The next few sessions are pivotal for this decision.
SUMMARY
Nasdaq closed September with solid bullish continuation candles and remains long-term bullish. However, mid-month weakness slowed the advance and is currently viewed as healthy consolidation before the next leg higher. This consolidation could extend for about a week.
Overall, the index remains moderately to strongly bullish across most frames. No strong reversal signal has been posted yet.
Happy Trading!
