October 5, 2022: NASDAQ Elliott Wave and Technical Analysis – Video and Charts
Downwards movement remains above the invalidation point of that last analysis but now suggests the bear market is not over, so a new target is calculated.
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
If this wave count is invalidated in the short term with a new high above 11,471.50 by any amount at any time frame, then it would be possible that the bear market may be over.
Minor wave 4 may not move into minor wave 1 price territory above 11,471.50. A new high above 11,471.50 may not be minor wave 4, so at that stage minor waves 4 and 5 may be over.
Published @ 08:54 p.m. ET.
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New updates to this analysis are in bold.