The post NASDAQ 100 rally to new all-time highs underway appeared on BitcoinEthereumNews.com.

Our last two updates for the NASDAQ100 (NDX) stressed that “any Bear market/correction is a Major Buying Opportunity (BIMBO) for those looking beyond today and tomorrow. This time, it will be no different.” Case in point, in our update from April 8, we concluded, “we focus on the index wrapping up these smaller 4th and 5th waves, which will be followed by a rally of at least 15-25%.” Fast-forward, and the index has been up over 22% since then. Besides, in our previous update, we found that the NDX would reach at least around $21400. Currently, it is trading at $21300. Meanwhile, only 11 to 29% of individual investors per the AAII sentiment survey have been bullish since April 16, as only 11% use (paid for) newsletters and research services to assess the stock market. Thus, analyzing the stock market’s price charts objectively using the Elliott Wave (EW) Principle helped us explain its condition and prevented bias and subjectivity, which otherwise would lead to irrational decisions, e.g., selling instead of buying. Thus, the Elliott Wave, high-quality newsletters, and research services are indispensable tools for assessing the stock market correctly. Now that three more weeks of price data are available, we have more details for forecasting the index’s most likely path. Allow us to explain below. Figure 1. NDX daily chart with detailed Elliott Wave count and technical indicators The index should now be in the orange W-3/c, and although we still cannot know at this stage if we will get five waves up (1-5) or only three (a-b-c) on the various degrees (orange, grey, green), we prefer the five-wave sequence due to several external factors like recent breadth thrusts. However, we must continue to label the current advance as 1/a, 2/b, 3/c, 4?, 5? until one or the other has…

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Filed under: News - @ May 14, 2025 9:29 pm