The post NASDAQ100 – Are new all-time highs in jeopardy? appeared on BitcoinEthereumNews.com.

It’s been over three weeks since we last shared our Elliott Wave (EW)-based analyses for the NASDAQ100 (NDX). Back then, the index was trading at around $21482. Fast-forward through two debacles (DeepSeek and Tariffs), and with all major tech companies’ earnings behind us, the index is trading at essentially the same level: $21672. So, the question is whether we can still expect new all-time highs (ATHs). Based on our preferred EW count, we believe the index can still reach new ATHs. Let’s explain using Figure 1 below, starting with where we ended last time. Figure 1. NDX daily chart with detailed Elliott Wave count and technical indicators “Thus, contingent on holding at least above $20800, …, and especially above the January 13 low at $20538, we should expect the index to reach the red W-v’s ideal target zone at $22825-23400. …  Meanwhile, we have penciled in a standard Fibonacci-based impulse pattern with the green W-1? through W-5? for this red W-v. However, since we’re most likely dealing with an Ending Diagonal from the August 2024 low, which comprises a 3-3-3-3-3 pattern, we may see short-term deviations, i.e., an a-b-c advance from the January 13 low.” So far, the index has held above these two warning levels, and with the additional price data since then, we can provide more details about our preferred EW count. In this case, the January 24 high was green W-1/a, and last week’s low was most likely green W-2/b. Thus, the index is most likely in the starting gates of the green W-3/c: grey W-i, ii. We don’t know yet if the latter has been completed at last Friday’s low, as it can still tag on another wave lower better into the grey W-ii ideal target zone ($21200-21400). But a break above last Friday’s high will…

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Filed under: News - @ February 11, 2025 8:25 pm