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

Gregor Horvat, based in Slovenia, has been in the forex markets since 2003. He is a technical analyst and individual trader who has worked for Capital Forex Group and TheLFB.com. He also is founder of forex services on www.ew-forecast.com. EW-Forecast.com provides technical analysis of the financial markets, highlighting behavioral patterns based on the Elliott Wave Principle (EWP). Website: http://www.ew-forecast.com/

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