In this week's update, I presented the Elliott Wave Weekly Update for the Nasdaq 100, focusing on technical analysis and Elliott Wave theory to interpret recent market movements.
I discussed both a preferred and an alternate count for the Nasdaq, detailing the structure of waves within the current primary wave 3 extension.
I explained how the market's recent decline could be interpreted as either the completion of a fifth wave or the start of a corrective move, depending on whether it holds above a key support level.
I also touched on geopolitical events, Treasury bond buybacks, and upcoming earnings from NVIDIA (NVDA) and Marvell (MRVL) as potential market influences. The update included a review of the cash market, futures (NQ), and the QQQ ETF, highlighting the importance of gamma levels and the challenges of counting waves amid market anomalies like price spikes.
I emphasized the need to let the market's future price action determine the correct Elliott Wave count.
Video Length: 00:45:14
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