Nasdaq 100 Elliott Wave Weekly Update - Sunday, Apr 19

Technical Analyst & Trader • Apr 19, 2026 at 4:55 AM EDT

Nasdaq 100 technicals signal a completed primary wave 3, warning of a looming wave 4 correction.

depositphotos_74090301-stock-photo-stock-market-graph.jpg — Source: DepositPhotos

In this week's podcast, I compared current market behavior to historical events, including the 1906 San Francisco earthquake, and drew parallels to the 1929 market crash.

I analyzed the Nasdaq's primary wave structure, focusing on the completion of primary wave 3 and the potential for a significant correction in the form of a primary fourth wave.

I emphasized the impact of options trading on market movements and discussed the importance of technical analysis over geopolitical factors.

I corrected a previous mistake in his S&P analysis and presented updated charts and wave counts for the Nasdaq and futures markets.

I concluded by urging traders to focus on day-to-day movements and technical indicators rather than external factors, leaving room for potential market shifts.

Video Length: 00:51:48

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