WaveTrack International

Elliott Wave Financial Price Forecasting

NEW UPDATE! Nasdaq 100 Breaks to Higher-Highs – then Collapse!

by WaveTrack International| March 15, 2018 | 2 Comments


Some of the major U.S. indices that declined during January/February’s sell-off unfolded into five wave impulse patterns. Yet, others developed into three wave corrective sequences. In order to maintain positive-correlation and pattern alignment, the ‘default’ procedure is to adopt developing [a]-[b]-[c] 5-3-5 zig zag pattern for the former. And naturally, an [a]-[b]-[c] 3-3-5 expanding flat patterns for the latter.

There is only problem with this. It demands a -19% decline for the outperforming Nasdaq 100 during wave [c]’s final sequence! That’s far too big compared to European and Asian indices. As these are already in the final stages of ending counter-trend declines that began from the November/January highs.

There are only two ways to reconcile this amplitude dislocation. Either the Nasdaq 100 and other U.S. indices will underperform European indices during wave [c]’s declines? Or the February lows ended the entirety of January’s correction for all U.S. indices with new impulse uptrends already in upside progress! However, with only a minor correction unfolding during the next week or so, correlating to final declines in Europe/Asia.

Shorter-term, we’ve detected the more recent upswing for the Nasdaq 100 from the early-March low of 6645.03 into this week’s high of 7186.09 unfolding into a three wave zig zag – see fig #1. That indicates wave (b) is transforming from a zig zag correction. Originally labelled ending at 6645.03, into a more complex correction, an expanding flat. However, wave [C] downside targets are now towards 6498.00+/-.

Nasdaq 100 forecast - 60 mins. chart by www.wavetrack.com

Nasdaq 100 forecast – 60 mins. chart by www.wavetrack.com


We can’t be certain which of these two scenarios will unfold! But one thing is for certain, a short-term decline to 6498.00+/- would present the next major buying opportunity. This is labelled as either ending wave (b) within a zig zag with wave (c) upside targets to 7381.64+/- or ending minuette wave [ii] two within a new impulse uptrend.

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About WTI

WaveTrack International is a financial price forecasting company dedicated to the Elliott Wave principle and work of the R.N. Elliott. Clients include Investment Banks, Pension Funds, Total/Absolute-Return/Hedge Funds, Sovereign Wealth Funds, Corporate and Market-Making/Trading institutions and informed individuals -- & just about anyone who is affected by directional price change.

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