Nasdaq – Road Map
Nasdaq opened today much as expected for those who read our weekly report. We now have enough evidence to outline the path and reconfirm the targets first discussed on Thursday. In this analysis, we’ll focus on classical patterns and Elliott Wave structures.
Classical Pattern
On Thursday, we discussed a developing flag in Nasdaq. On Friday, the index made one more leg down to complete the structure, then bounced and is already testing the flag’s upper boundary. In light of that final wave, I’ve slightly adjusted the targets.
Elliott Waves
NQ is already up 3.2% off Friday’s low, and the wave has been impulsive so far. I’m tracking two possible paths for further development. The green path is technically healthier and aligns better with probable Fibonacci supports. The blue path is much riskier and would quickly push the index into overbought territory. Ideally, the index would retrace correctively overnight and during part of tomorrow before wave (iii) launches. If Nasdaq forms a higher-degree impulse (i–v), green or blue, it would likely terminate within the flag’s target area.
