Nasdaq100
Nasdaq Short - Possibility 10600 Nasdaq on day chart has formed Head and shoulder pattern and may fall very fast in case of bad news..... the Stop loss will be 9/20 High in case of trend reversal. Hope this doesnt happen.
On weekly there is inverted cup and handle pattern forming.
I wish it doesnt fall so much.
Nasdaq Elliott wave structureElliott Wave view in Nasdaq suggests the decline to 11035.20 ended wave (3). Wave (4) corrective rally ended at 12225.70 with internal subdivision as a wave A-B-C in a zigzag pattern.
Final leg higher wave C ended at 12225.70 which also completed wave (4). The Index has turned lower in wave (5), but it still needs to break below wave (3) at 11035.20 to rule out a double correction.
Internal subdivision of wave (5) is unfolding as a 5 waves impulse structure, where wave 1 completed near 11400, Now wave 2 rally is in progress to correct cycle where wave ((a)) and ((b)) had already ended and now wave ((c)) of 2 to end soon and Index to turn lower. Should sell on rise, On the way upside Invalidation level is pegged at 12230, and RK's stop line on daily chart can also be a hurdle to go up side, which is pegged at 12070, On closing below 20DMA can show more weakness, which is now pegged at 11621, Once its gone then more journey towards south can start, towards 11500, 11394, 11291, 11145, 10959, 10729 and 10441 too.
Overall wave structure along with all the key levels
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NASDAQ 100NASDAQ 100, never came below the ema of 233 since 2010, and came below 144 only 2 times after that, in 2018 and 2020 and gave good bounce back from there.
Now if you see it is making the same pattern around 144 ema as it did during a covid low in 2020.
It looks bullish from here, until and unless it again closes below 144 ema.
Wave A not completed yet at NASDAQ 100, but almost close to itSub-sub wave (((3))) of sub wave ((5)) in progress, Looks like wave (((3))) is extending at down-side, so we may expect Nasdaq going down and completes its wave (((3))),(((4))),(((5))) in coming sessions
Assumptions: This is assumed, that wave ((4)) is completed. what if wave ((4)) is not completed, That's entirely different, lets wait for the market to unfold. But currently we can consider this scenario
Overall : NASDAQ is undergoing Zig-zag (5-3-5) correction at longer term, where wave A is about to complete its role, followed by we may expect pull back as wave B
Nasadaq Index Analysis - Harmonic Pattern Dow Jones and Nasdaq have given a clear positive outlook. Nasdaq has formed a perfect ABCD pattern and has given clear break out at 61.8 Fib level.
This indicates that the US market looks positive and hence i see an up-move in the Indian indices as well.
The targets are as mentioned on the chart.
This is for educational Purpose only.
NAS100 Looking LongRussia-Ukraine war has brought some whipsaws in the markets
The Oil Markets and Gold markets are going up
The stocks markets is going down and hence the indices are also going down
Since Thursday last week thae indices closed positive with the US indices closing with an inverted head and shoulder pattern
The 3 main US indices; NAS 100, WS30 and S&P500 are looking Bullish with NAS100 targeting 15000 region