Nasdaq 100 Elliott Wave Daily Update - Thursday, May 7

The Nasdaq 100 enters a corrective fourth-wave pullback as semiconductor weakness and geopolitical tensions pressure tech stocks.

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Source: DepositPhotos

The Nasdaq 100 appears to be entering a corrective fourth-wave pullback after an extended rally, with semiconductor weakness and rising geopolitical tensions (oil/Hormuz concerns) adding downside pressure. The broader bullish structure remains intact, but short-term volatility is expected to increase ahead of options expiration.

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