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Elliott Wave Financial Price Forecasting

Nasdaq100 – Expanding Flat – New Update!

by WaveTrack International| April 3, 2018 | 9 Comments

NASDAQ100 – Technology Stock Slide Over!

  • Nasdaq100 ended corrective expanding flat downswing yesterday at 6322.90 – outlook affirms bullish call for next several weeks.


    • Monday’s technology stock slide to slightly lower-lows has now satisfied the necessity of wave [C]’s decline from the mid-March high of 7186.09 unfolding into a five wave pattern. Up until now, it was difficult to determine if last week’s low had ended by then. Especially, as the decline given fib-price-ratio measurements had already traded at 6410.04. But this additional swing lower fits the pattern structure better. Even so, there are two new fib-price-ratio measurements which have converged to form a matrix into Monday’s low at 6322.90 – see fig #1.

    NASDAQ100 - 20 mins - Elliott Wave Forecast by WaveTrack International

    NASDAQ100 – 20 mins – Elliott Wave Forecast by WaveTrack International

    Its worth recording wave [C]’s decline from 7186.09 as an ‘elongated’ sequence within this expanding flat pattern that began from the February 27th high of 7003.13. This is elongated because it exceeded wave [A]’s fib. 61.8% extension level of 6432.94 by a fair margin – statistically, this is unusual, but we had a notion this might occur because the five wave structure of wave [C]’s decline seemed incomplete. Not the case anymore.

    To compensate for wave [C]’s elongation, wave [B] is instead extended by a fib. 61.8% ratio which projects a terminal low to 6331.22+/-. Monday’s low was just a fraction more, to 6322.90. Furthermore, if the five wave impulse pattern of wave [C]’s decline is measured, then extending waves 1-4 by a fib. 61.8% ratio projects a terminal low for wave 5 to 6324.49+/-.

    Conclusion

    From both structure (qualitative) and measurement (quantitative), the Nasdaq100’s expanding flat corrective pattern is verified as ending into Monday’s low at 6322.90. This opens a clear route higher for the next several weeks – original upside targets for wave (c) remain unchanged towards 7352.83-7381.64+/-.

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    Category: Elliott Wave, fib-price-ratio, Nasdaq100

    Comments

    9 Responses to “Nasdaq100 – Expanding Flat – New Update!”

    1. shushumiga
      April 4th, 2018 @ 12:53 pm

      Why choosing such complicated pattern which does not fit with any other index???
      You are wrong with this expanded flat in expanded flat accept it.
      This informercial only backfires.
      Why not running flat to finish wave 4 like many other indexes?

    2. Wavetrack International
      April 4th, 2018 @ 1:22 pm

      Thank you for your message. Our latest NASDAQ forecasts -as you have followed it – came in perfectly within our forecasted numbers. This should be self-explanatory – look at the forecast and the outcome. To have a good Elliott Wave discussion it needs respect and making
      good points of why one pattern is choosen over the other. However, if you think differently – that is absolutely fine with us. We are not claiming to know it all – but we are giving guidance to those who are interested in it. And if you do know it better for yourself, you must naturally always do and intvest in what you truely believe in! Wishing you luck and all the best.

    3. Praveen Vishnu Shamain
      April 5th, 2018 @ 10:06 am

      If you are in disagreement with somebody or somebody’s views, there can be a better way to express it.

      You are too rude, impolite and the way you are writing is – as if you know everything and market dances to your music 🙂

      I have been observing that for the last few updates, you are coming here, criticising the view expressed here and go into hiding.

      If you have a better view or analysis, please share with others like me.

      For your information, AS OF NOW, Mr. Peter Goodburn’s views are proved right and you ended up being an empty box, which makes lots of noise.

    4. Wavetrack International
      April 5th, 2018 @ 10:35 am

      Dear Praveen Vishnu Shamain, Thank you for your kind comments ~ much appreciated. Most of all that you obviously have followed and understood the recent forecasts. Will pass this on to our EW-team. Have a wonderful day.

    5. shushumiga
      April 6th, 2018 @ 5:36 am

      Yes, I am rude that is my way, when I see crap.
      How it begun and the “success stories”:
      The blog is full of expanded flats which did not play out, Mr. Peter Goodburn sees expanded flats everywhere.
      – The first post with ES/SP500 – OMG not again another expanded flat which will not play out. Ok I will not be rude and I will not say anything. It did not play out.
      – Nasdaq expanded flat – trying to be polite explaining why it will not play out… it did not play out.
      – Double down expanded flat in expanded flat – it just getting ridiculous and I am now rude.
      – Success story expanded flat finished up begins – wait not so successful the “wave expanded”.
      To sum up – I am still waiting to see the “success story”, but hey “AS OF NOW, Mr. Peter Goodburn’s views are proved right”. When you say so:)))))
      I am not in the business of selling subscriptions so I do not need to guess like Mr. Peter Goodburn.
      I am a trader and have practical approach. I am good enough to know when the move is over or not and trade it.
      To be fair patterns at this stage could not be predicted no matter how good some guru is. Mr. Peter Goodburn guessed a few times it did not work fine. I have no problems with that, it was expected.
      I have problems when he sees expanded flats everywhere.
      A tip for all EW guys – when you do not know if you have a knew wave or a sub-wave all you need is to look at RSI with a trend line.
      Using this for years and works like a charm. Now look at the Weekly chart and RSI with trend lines.
      I can not say for sure what pattern we have(even this one is possible), but I can say for sure this is not wave 4 from the Feb.2016 low the way Mr. Peter Goodburn presents it.
      Now we wait to see what happens. If I am wrong I will come back and say shame on me, but I expect the same from you.

    6. Wavetrack International
      April 6th, 2018 @ 8:56 am

      Dear Shushumiga, If you are a trader you could have made a lot of money as some of our clients did. When you can forecast a drop on 23rd March 2018 of Nasdaq 100 -7.5% during next 2 weeks – as Mr. Goodburn did!
      However, it is clear that you cannot use this information and we will not entertain anybody here in this forum who becomes rude or submissive. You just crossed that line with your last sentence to Mr. Praveen Vishnu Shamain. We sincerely wish you happyness and luck. God bless you.

    7. shushumiga
      April 7th, 2018 @ 12:07 am

      Yes, I made enough money.
      I do not need your help.
      I saw how much worth the paid subscriptions are and learned to analyze the markets my self.
      Two weeks ahead of the correction posted for free. You can not impress me.

      Grow up you take it personally and like I question all your work.
      It is not about if your analysis are good or not. You are ok although I do not agree with all your analysis. It is about your obsessions with expanded flats.

      You want EW discussion here it is:
      Do not you notice that your wave [c]/(b) is longer than the whole wave (a)? What kind of EW is this?
      How much more ridiculous should it be before you admit that this is a wrong pattern?
      You are wrong just move on. Nothing bad to be wrong it is part of the game.
      I explained once trying to be polite and you just doubled down with the bullshit.
      When I see bullshit I call it bullshit because it is bullshit.
      Sorry!

    8. Praveen Vishnu Shamain
      April 6th, 2018 @ 9:59 am

      Shushumiga,

      You are right. Sheep needs a Shepherd and similarly, a student needs a good teacher. I am a student of EW here, and I look at Mr. Peter Goodburn as my teacher. How you see me doesn’t matter to me.

      Since you have brought poor animals into this conversation, let me end this conversation on the same note.

      “I learned long ago, never to wrestle with a pig. You get dirty, and besides, the pig likes it.” – George Bernard Shaw

    9. shushumiga
      April 7th, 2018 @ 12:11 am

      You are just a fanboy. If you want to learn you will question the info and try to analyze using your brain not just swallowing everything like a pig:)

      Here is something to think about:
      Wave [c]/(b) is longer than the whole wave (a)? What kind of EW is this?

      Hint – bullshit EW
      Oooo wait it is expanded flat in expanded flat in expanded flat…

      I have suggested a pattern simple running flat for wave 4 like any other index… no EW discussion…. I am rude and “I am empty box” said the fanboy.
      I think some one else is the empty box.

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