Nasdaq Inc. (NASDAQ: NDAQ) continues to maintain a strong long-term bullish structure based on the Elliott Wave analysis shown in the monthly chart. After completing cycle wave II at 44.07, NDAQ has turned higher and is now progressing within cycle wave III, supporting the broader bullish trend. The larger Elliott Wave structure shows that the stock has developed through a series of impulsive advances and corrective phases since the major lows of the previous decades. The chart indicates that the advance into 2021 completed a significant portion of the larger structure, followed by a corrective wave ((4)) that ended at the 44.07 low.
From that low, Nasdaq has resumed its upward trajectory. The current sequence remains incomplete and is developing in three swings, followed by a pullback within wave ((4)). Price subsequently turned higher again and is now developing another five-wave sequence in wave ((5)), supporting the continuation of the bullish cycle wave III structure.
NDAQ Wave III Targets 106.82–116.32
Based on the current Elliott Wave count, the ongoing advance is expected to extend at least toward the 1.236 external retracement of wave ((4)), which projects around 106.82. However, the bullish structure allows for further upside toward 116.32, where wave III could complete. The 116.32 region is particularly significant because it would also represent the equal legs of wave I on the larger timeframe, adding further importance to this potential target zone.
The bullish outlook remains valid as long as NDAQ holds above the key 44.07 level. A break below this support would invalidate the current bullish setup and require a reassessment of the Elliott Wave count.
Overview
Nasdaq Inc. (NASDAQ: NDAQ) remains bullish after completing cycle wave II at 44.07. Wave III is now advancing toward 106.82, with potential extension to 116.32. The bullish outlook remains valid above 44.07.
