The short‑term Elliott Wave analysis of Nasdaq Futures (NQ) suggests the Index is close to completing its cycle from the March 31, 2026 low. The rally from that level has developed into a five‑wave impulsive structure, which is typical of a strong upward trend. Wave ((i)) concluded at 24,348.25, followed by a corrective decline in wave ((ii)) that ended at 23,666. The Index then advanced in wave ((iii)) to 27,542.5 before retracing in wave ((iv)), which terminated at 27,012.79.
Wave ((v)) is now unfolding and subdivides into a smaller five‑wave impulse, consistent with Elliott Wave principles. From the end of wave ((iv)), wave (i) advanced to 27,622.75, while wave (ii) corrected to 27,163.25. The Index is expected to push higher through waves (iii), (iv), and (v), completing wave ((v)) of 1 at a larger degree. Once this sequence finishes, a corrective wave 2 should emerge, retracing part of the cycle that began on March 31. This correction would provide consolidation before the Index resumes its upward path. In the near term, as long as price remains above 27,012.79, Nasdaq Futures retain potential for further upside. Traders should anticipate that once the five‑wave sequence of wave ((v)) concludes, a larger degree pullback will likely follow.
