• Home
  • /
  • Blog
  • /
  • NASDAQ 100 / Elliott Wave update 12/21/2021 by Michael Filighera

NASDAQ 100 / Elliott Wave update 12/21/2021 by Michael Filighera

Share0
Tweet0
Share0
Share0
Tweet0
Share0

Tuesday’s trade finally saw the Santa rally after a early push lower.  I have adjusted the labeling in that the low at 15492 is now the completion point for minute wave 1 of “C” with minute wave 2 of “C” still in progress.  Additional resistance to complete wave 2 comes in at 15988, 16070, 16150 to 16170, and then 16281.  Wave 2 can retrace nearly 100% of wave 1, but it can not exceed the start point for wave 1 which is 16456.  For now the expectation is that resistance under 16170 will contain and complete wave 2 and yield to the star of Minute wave 3. Expectations for wave 3 are for the NQ to drop below 15492 and down into support that begins at 15232, 14943 to 14765 and then 14476 to 14370.

 Previous
Next

Tags

You may also like

{"email":"Email address invalid","url":"Website address invalid","required":"Required field missing"}

Commodity Futures Trading Commission: Futures and Options trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don't trade with money you can't afford to lose. This is neither a solicitation nor an offer to Buy/Sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site. The past performance of any trading system or methodology is not necessarily indicative of future results.

CFTC RULE 4.41 - HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.

Content on this site is for educational and entertainment purposes only. Nothing on this site should be viewed as trading advice.