Nasdaq 100 Elliott Wave Weekly Update - Sunday, June 28

Technical Analyst & Trader • Jun 28, 2026 at 4:00 AM EDT

Nasdaq 100 analysis signals a potential wave 4 correction as quarterly expiration and supply chain risks pressure Apple and Microsoft.

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

In this week's update, I discuss recent market movements and potential future directions. I analyzed how expiration cycles, particularly the June 30th quarterly expiration, could impact market performance, noting that JP Morgan's large collar roll would provide important trading range guidance.

I examined the broader market context, including geopolitical tensions with Iran and potential impacts on oil prices through the Strait of Hormuz, as well as supply chain issues affecting memory chip production, affecting companies like Apple (AAPL) and Microsoft (MSFT).

I presented detailed Elliott Wave analysis showing the Nasdaq may have completed primary wave 3 and is entering a potential fourth wave correction, with key support levels at 28,045 and 27,488, though I acknowledged the complex nature of the current wave counts and promised to provide a cleaner chart setup in the next update on Monday morning.

Video Length: 00:48:12

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