NASDAQ Composite – 9/22/2024

I’ve put a ‘rudimentary’ count together on the NASDAQ and from a price perspective, it does not violate any rules of Elliott BUT notice how LONG (time) wave 1 and wave 3 were …?

Might be a hard argument to win that this is THE 5th wave …maybe 1 of 5 but I do think we have some resistance here or a little higher.

Interestingly enough, the all time high, so far, on the NASDAQ was exactly equal to 1.618 * wave 1.