Nasdaq 100

Summary Of Our Nasdaq Forecast

Published 3rd December 2017 & amended 15th December 2017

Our Nasdaq forecast sees a 2%-4% correction days ahead. The correction will ultimately resolve to the upside as the overall trend remains up. Moreover we forecast that a buy and hold strategy will get increasingly difficult for the Nasdaq in 2018. The current Nasdaq trend is up but maturing.

Short Term Nasdaq Trend

Published 15th December 2017

The Nasdaq 100 is either in or near its iv°th wave. The first chart below shows the respective elliott wave counts for both scenarios. The red count would be valid if we’ve traced out a leading diagonal to the downside from 28th November into 6th December. We expect a shallow iv°th wave in alternation to wave ii°, which had a deep retrace. We’ll look out for support and resistance around fibonacci levels 23.6%-38.2% as we expect the corrective wave to target these. 

All in all we expect to remain within the green trend and rally into higher levels after the iv° correction is finished. The trend to the upside is still active.

Medium Term Nasdaq Trend

Published 17th October & validated 15th December 2017

The next correction wave will be on the Nasdaq menu right after we finish wave 5, which we described in the section above. Once finished it is likely that the correction of primary wave 4° will be shallow and complex as wave 2° was a sharp and deep zig zag. Nevertheless, this will be most likely the biggest correction since the drop during the financial crisis in 2008! Our Nasdaq forecast leads to the conclusion that a trading approach should be more appropriate in the medium term.

Technical Analysis