Nasdaq 100 Elliott Wave Weekly Update - Sunday, June 21

By Michael Filighera of Logical Signals

Technical Analyst & Trader • Jun 21, 2026 at 3:30 AM EDT

The Nasdaq 100 faces a critical pivot point as Middle East tensions influence Elliott Wave projections.

depositphotos_393139244-stock-photo-new-york-city-may-2017.jpg — Source: DepositPhotos

In this week's update, I provide a comprehensive Elliott Wave analysis of the Nasdaq 100 (QQQ) market while discussing the impact of geopolitical tensions in the Middle East on market dynamics. I examined both bullish and bearish scenarios, considering whether the recent rally represented the completion point for primary wave 3 or the start of a finishing rally again to new all-time highs.

I put a particular focus on semiconductor stocks like Micron (MU), Marvel (MRVL), and SanDisk (SNDK) that have experienced significant price increases. I discussed how market participants are responding to potential peace negotiations between the US, Israel, and Iran, noting that Iran's closure of the Strait of Hormuz could impact crude oil prices and market sentiment.

I analyzed specific technical levels and Fibonacci retracement targets that would validate different wave counts, emphasizing that market direction would likely depend on how geopolitical developments unfold over the weekend and into the following week.

Video Length: 00:54:12

Disclaimer:

Futures and Options trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don’t trade with money you can’t afford to lose. This is neither a solicitation nor an offer to Buy/Sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site. The past performance of any trading system or methodology is not necessarily indicative of future results.

CFTC Rule 4.41 – Hypothetical or simulated performance results have certain limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not been executed, the results may have under-or-over compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will, or is likely to, achieve profit or losses similar to those shown.

STOCKS IN THIS ARTICLE

AMD AVGO DJI ES INTC NDX NQ NVDA QQQ SPCX SPX

Comments

Back to all articles