August 17, 2022: NASDAQ Elliott Wave and Technical Analysis – Charts

It is possible that NASDAQ has found a sustainable low in June 2022 and may have just begun a fifth wave up at cycle degree.

Summary: Two alternates consider the low may not be in and a large consolidation, which may or may not make a slight new low (a flat or triangle), may continue sideways for months yet.

Note that the S&P500 and NASDAQ do not always find highs and lows together. The last all-time high for the S&P500 was on January 4, 2022, whereas the last all-time high for NASDAQ was November 22, 2021. 

MAIN ELLIOTT WAVE COUNT

QUARTERLY CHART

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MONTHLY CHART

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WEEKLY CHART

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FIRST ALTERNATE WEEKLY CHART

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SECOND ALTERNATE WEEKLY CHART

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TECHNICAL ANALYSIS

WEEKLY CHART

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DAILY CHART

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Published @ 06:47 p.m. ET.

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Careful risk management protects your trading account(s).

Follow my two Golden Rules:

1. Always trade with stops.

2. Risk only 1-5% of equity on any one trade.

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New updates to this analysis are in bold.

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