NASDAQ Seems Impulsive Bullish - Elliott Wave Analysis

By: Gregor Horvat | Thu, Aug 13, 2015
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Nasdaq has been trading bullish since 2008. So far it has made three waves up within ongoing impulse with blue wave 3 still unfolding. On the Daily chart we are tracking an ending diagonal in red wave v-circled that can cause a top for wave three this year. However another high can still occur because on a daily chart we see a triangle in black wave (iv) of an ending diagonal.

Triangles consist of five sub-waves a,b,c,d and e. Each of them have 3 more subwaves. After the correction in black wave (iv) is completed, the price could move into higher levels in black wave (v), thus completing red wave v-circled ideally around 4650.

NASDAQ Weekly Elliott Wave Analysis

NASDAQ Weekly Elliott Wave Analysis

NASDAQ Daily Elliott Wave Analysis

NASDAQ Daily Elliott Wave Analysis

 


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Gregor Horvat

Author: Gregor Horvat

Gregor Horvat
www.ew-forecast.com

Gregor Horvat

Grega is based in Slovenia and has been involved in markets since 2003. He is the owner of www.ew-forecast.com, but before that he was working for Capital Forex Group and TheLFB.com. His feature articles have been published on: SafeHaven.com, FXstreet.com, Thestreet.com, Action forex, Forex TV, Istockanalyst, ForexFactory, Fxtraders.eu, Insidefutures.com, etc. He recently won the award on FXStreet.com for Best Forex Analysis in 2016. At www.ew-forecast.com he helps clients and educate them about the Elliott wave prinicple and how to label and track unfolding patterns in real time.  His approach to the markets is mainly technical. He uses a lot of different methods when analyzing the markets such as candlestick patterns, MA, technical indicators etc. His specialty however is Elliott Wave Theory which could be very helpful especially if you know how to use it in combination with other tools/indicators.

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