Nasdaq 100: Correction Watch – Final Waves?
- The NASDAQ 100 (NDX) index is navigating a complex phase as it approaches the culmination of its final wave formations.
- It currently trades around $21,785, closely following projected targets.The orange fifth wave is further divided into an overlapping ending diagonal (ED), adding complexity to forecasting.Last week, the blue...
- Warning levels are crucial for traders.The first level,or "radar lock," stands at $21,730.
The NASDAQ 100 index (NDX) is at a critical juncture, with its final wave formations nearing completion, according too the Elliott Wave Principle. Traders should watch key warning levels, as these will significantly impact the market’s immediate direction. Recent analysis reveals the index’s performance, with the orange fifth wave further complex by an ending diagonal, making forecasting complex and crucial for investors. Breaching specific price points, such as $21,199, signals significant shifts, while holding above $21,591 could led to upward targets. Stay informed with News Directory 3 for the latest updates. Discover what’s next and the potential rise to $23,095.
NASDAQ 100 Index faces Crucial Wave Completion Amid Market Volatility
Updated June 17, 2025
The NASDAQ 100 (NDX) index is navigating a complex phase as it approaches the culmination of its final wave formations. As April, analysts have observed a bullish trend, utilizing the Elliott Wave (EW) Principle to project potential peaks and corrections. The index’s recent performance aligns closely with these forecasts,underscoring the relevance of technical analysis in understanding market movements.
In May, the NDX reached $21,483 before dipping to $20,778. It currently trades around $21,785, closely following projected targets.The orange fifth wave is further divided into an overlapping ending diagonal (ED), adding complexity to forecasting.Last week, the blue W-iii peaked near $22,041, while the blue W-iv declined to $21,591.
Warning levels are crucial for traders.The first level,or “radar lock,” stands at $21,730. The second, a “shot across the bow,” is at $21,472. A breach of $21,199 represents a notable warning, while a drop to $20,032 would trigger an alternative EW count.
However, overlapping patterns in EDs can make forecasting challenging. The index peaked near the orange 200.0% Fibonacci extension at $21,964, close to the $22,041 mark. The gray 161.80% Fibonacci extension at $22,237, a typical target, is also nearby. This suggests the orange W-5 of the gray W-iii/c may be complete. The index could currently be in the gray W-iv, ideally around $20,995, before a potential rise to $23,095.
Identifying profitable wave formations, such as a third wave or a C wave, is a primary goal for traders using the EW principle. The gray W-iii/c appears to be nearing its conclusion.
What’s next
As the index completes its final fourth and fifth waves, the focus shifts to monitoring key price levels. A drop below $21,199 could lead to a target of $20,935. if the index remains above last week’s low of $21,591, it could reach $22,275 to $22,530 before entering the next corrective phase, the gray W-iv.