Nasdaq 100 Elliott Wave Weekly Update - Sunday, Feb 8

By Michael Filighera of Logical Signals

Technical Analyst & Trader • Feb 8, 2026 at 6:45 AM EST

In this week's podcast, I discuss the recent volatility in the markets, noting large declines followed by a significant rally on Friday.

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In this week's podcast, I discuss the recent volatility in the markets, noting large declines followed by a significant rally on Friday. I explain that the current market situation is similar to what happened in 2008-2009, but goes back further to 2002 to compare the Nasdaq's crash. I suggest that the market could be heading towards a larger corrective process, but emphasizes the importance of timing in predicting market direction. He also mentions his response to someone on the S&P 500 weekly podcast, stating that his approach is not fixed on one count or the other, but rather focused on what could switch the market direction.

I discussed the current market situation, focusing on the Nasdaq futures market where the fourth wave is still valid, unlike in the S&P where it was invalidated by Friday's rallies. I present alternative scenarios and noted that the rally from here could be wave 5 of the minute degree, with minute wave 4 being completed previously. I also mentioned Fibonacci levels around 27,000-28,000 and a higher level at 33,000, but expressed uncertainty about the stimulus needed to push the markets higher.

Video Length: 00:43:58

More By This Author:

Gold, Silver, And Platinum Elliott Wave Weekly Update - Sunday, Feb 8
S&P 500 Elliott Wave Weekly Update - Friday, Feb 6
Nasdaq 100 Elliott Wave Daily Update - Tuesday, Feb 3

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