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
FIRST ALTERNATE WEEKLY CHART
SECOND ALTERNATE WEEKLY CHART
Published @ 06:47 p.m. ET.
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New updates to this analysis are in bold.