Nasdaq Archives - Page 3 of 13 - Elliott Wave Forecast

NASDAQ (NQ_F) Elliott Wave: Forecasting the Rally From the Equal Legs Zone

July 9, 2025 By EWF Vlada

Hello fellow traders. In this technical article we’re going to look at the Elliott Wave charts of NASDAQ (NQ_F) published in members area of the website. As our members know, $NQ_F is forming impulsive bullish sequences in the cycle from the 16441.7 low. Recently, we forecasted the end of the short-term pull back and called for a further rally. In the following text, we’ll explain the Elliott Wave analysis and present target areas.

NQ_F Elliott Wave 1 Hour Chart 07.07.2025

NASDAQ is forming a three-wave pullback which still looks incomplete at the moment. Our members know that we can easily identify the reversal area by measuring the Equal Legs zone, (a) related (b), which comes in at the 22803.44-22664.02 area. We expect buyers to appear within the mentioned zone and to see a further rally in NASDAQ ($NQ_F) from there.

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NQ_F Elliott Wave 1 Hour Chart 07.07.2025

NASDAQ found buyers as expected at the Equal Legs area and has delivered a decent rally so far. The price broke toward new highs, confirming the next leg is already in progress.

Remember, the market is dynamic, and the presented view may have changed in the meantime. For the most recent charts and target levels, please refer to the membership area of the site. The best instruments to trade are those with incomplete bullish or bearish swing sequences. We put them in Sequence Report and best among them are presented in the Live Trading Room

Reminder for members: Our chat rooms in the membership area are available 24 hours a day, providing expert insights on market trends and Elliott Wave analysis. Don’t hesitate to reach out with any questions about the market, Elliott Wave patterns, or technical analysis. We’re here to help.

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Micron (MU) Surges on AI Boom, Wave Count Confirms Rally

July 6, 2025 By EWFLuis

Micron Technology (MU) leads the memory and storage industry with advanced DRAM, NAND, and emerging memory technologies. Founded in 1978, it quickly became essential to smartphones, AI, automotive systems, and data centers. Moreover, Micron focuses on performance, energy efficiency, and scalable innovation. As a result, it empowers faster, smarter, and more secure digital solutions worldwide. Ultimately, Micron continues to shape the future of intelligent computing across industries.

Micron posted a record $9.3B in Q3 FY2025 revenue, fueled by strong AI-driven demand for DRAM and HBM memory. Net income hit $2.18B with EPS of $1.91, beating expectations. For Q4, the company projects up to $11B in revenue and EPS as high as $2.65. Backed by $12B in liquidity and a $200B U.S. investment plan, Micron is solidifying its role as a leader in next-gen semiconductor innovation.

Technically, MU has been trading above key moving averages, supported by strong volume and bullish momentum. The stock recently broke out of consolidation, confirming institutional interest and trend strength. However, with the Relative Strength Index (RSI) nearing overbought territory and price action approaching key Fibonacci levels, it’s an ideal moment to apply Elliott Wave analysis. This method helps us identify the current wave structure, assess whether the rally is impulsive or corrective, and anticipate potential reversal zones or continuation targets. By mapping out the wave count, we aim to align with the dominant trend while managing risk with precision.

MU Weekly Chart March 2025

The price broke below wave ((A)) low, which suggested wave ((B)) may be completed instead of wave (A). However, the ranging movement more likely indicated wave ((B)) was forming an expanding flat correction. We labeled wave (B) at the 83.54 low, and wave (C) was progressing as an impulse or an ending diagonal structure. The chart illustrates an upward impulse, targeting the 113.95–132.90 area for wave (C) and ((B)). Afterward, the market will likely react lower to continue wave ((C)) of II. On the other hand, if the market would break below wave (B), it would confirm the completion of wave ((B)) and the beginning of a downward wave ((C)).

If you’d like to deepen your understanding of Elliott Wave Theory, explore these resources: Elliott Wave Education and Elliott Wave Theory

MU Weekly Chart July 2025

In this new weekly chart, we can see that the expected expanded flat did not materialize. Instead, the market broke below wave (B) at 83.54, confirming that wave ((B)) had already ended. This event coincided with the announcement of new international tariff changes by the United States. Wave ((B)) ended at 104.69, forming a triangular structure and initiating wave ((C)) of II. The market then experienced a sharp decline, reaching 61.54 and completing the correction on April 7. From that point forward, the price action turned decisively bullish, signaling the development of an impulsive advance.

Currently, we believe the stock is building wave (1), with price action entering wave 3 of (1). The structure suggests continued upward movement, although we expect some range-bound behavior as the market works toward completing the impulse. Ideally, wave 3 should reach the 132.82–137.41 zone, where we anticipate a potential bearish reaction that could mark the end of wave 3. Afterward, the market will likely remain in a consolidation phase before initiating a final rally to complete wave (1) and transition into a corrective phase.

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ARM Surges Higher — Here’s Why We’re Updating the Charts

July 5, 2025 By EWFLuis

ARM Holdings plc, a new public player with a deep innovation track record, leads in energy-efficient, high-performance processor design. It powers billions of devices and anchors the AI and mobile computing surge. The company’s scalable licensing model ensures recurring revenue across diverse sectors. Its robust ecosystem fosters long-term client relationships, securing ARM’s future in tech.

Trading above key moving averages with bullish breakouts and strong volume, $ARM signals continued institutional interest and trend strength. Following a strong rally on $ARM, we’re updating the charts to reflect its bullish momentum and technical structure.

ARM Daily Chart July 2025

On the daily chart, ARM Holdings sparked a strong impulsive rally, completing wave (I) at the 188.75 high. Then it entered a flat correction as wave (II), pulling back into the 90.78–68.99 Blue Box — a high-probability reversal zone. The correction ended at the 80.00 low, igniting a sharp bullish reaction. That move initiated wave ((1)), which continues to unfold with strength. Currently, the structure is trading in wave 4 of (3) and it is looking for a rally as wave 5 of (3). After wave ((1)) completes, a pullback in wave ((2)) should follow. This next leg will likely develop in 3, 7, or 11 swings. Once complete, the broader bullish trend is expected to resume. Traders should watch the pullback for long setups.

ARM Daily Alternative Chart July 2025

Although the Blue Box bounce supports the bullish case, an alternate view suggests wave (II) may still be incomplete. In this path, the 80.00 low may be wave w of a double correction. The current advance likely forms wave x as a zig zag and may need one more high to finish. If so, wave y could drive price below 80.00 to complete wave (II) and offer a buying opportunity. A break above 188.75 would invalidate this view and confirm the bullish continuation. Until then, stay flexible and track the structure in real time.

If you’d like to deepen your understanding of Elliott Wave Theory, explore these resources: Elliott Wave Education and Elliott Wave Theory

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Powering the Future: ARM Breakout Potential in a Connected World

June 24, 2025 By EWFLuis

ARM Holdings plc is a relatively new entrant to public markets, yet its technological foundation is anything but inexperienced. Renowned for pioneering energy-efficient, high-performance processor designs, ARM powers billions of devices globally. Its recent IPO signals a strategic leap, positioning the company for strong, long-term growth as demand for smart, connected technologies accelerates.

ARM enjoys strong positioning in the AI and mobile computing boom. Its licensing model delivers recurring revenue and scalability across multiple markets. Moreover, the company’s robust ecosystem encourages adoption and long-term customer relationships, securing its role in tech’s future.

ARM’s chart reflects solid upside momentum above key moving averages. Bullish breakouts signal trend strength, supported by healthy trading volume. Additionally, positive momentum indicators suggest continued buying interest, reinforcing current price action.

ARM Daily Chart June 2025

In the daily chart above, ARM Holdings began a strong impulsive rally ending wave (I) at 188.75 high. After that, the stock entered a flat correction as wave (II), retracing into the 90.78–68.99 Blue Box—a high-probability reversal zone. The pullback bottomed at 80.00 low, completing wave (II) and triggering a sharp bullish reaction. That move launched a wave ((1)) impulse, which continues unfolding with momentum. Once wave ((1)) completes, expect a pullback in wave ((2)). Typically, wave ((2)) unfolds in 3, 7, or 11 swings. After that, the broader rally is likely to resume. Traders should monitor the correction for entry opportunities.

ARM Daily Alternative Chart June 2025

While the current reaction from the Blue Box supports the bullish scenario, an alternate view suggests wave (II) may not be completed. In this case, the decline into the 80.00 low would mark wave w of a double correction. The current bounce would then be part of a wave x connector, setting the stage for another leg lower. If so, wave y could take the stock below 80.00 to complete wave (II) and offer a high probability buying opportunity. If you want to learn more about Elliott Wave Theory, follow these links: Elliott Wave Education and Elliott Wave Theory).

To invalidate this alternate scenario, price must break above the 188.75 high. Until then, both views remain valid, and traders should stay flexible while tracking the structure in real time. Stay tuned as the market unfolds the next wave—trade smart!

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Palantir (PLTR) Surges Ahead: A New Impulse Cycle Begins After April Correction

June 3, 2025 By EWFLuis

Palantir Technologies (PLTR) thrives as demand for data analytics grows. Its stock surged over 140% after Trump’s election, reflecting investor confidence. The company holds a $309 billion market cap and $5.43 billion in cash reserves, ensuring financial stability. Moreover, partnerships with Bain & Company and Divergent Technologies strengthen its market influence. Although analysts warn of volatility, Palantir’s shareholder returns exceed 1000% over three years. Additionally, AI advancements enhance its competitive edge. While its stock trades above estimated fair value, continued expansion supports future growth. Consequently, Palantir remains a dominant force in the industry, prepared to capitalize on emerging opportunities.

PLTR Daily Chart Update: February 20, 2025

Last February, Elliott wave analysis suggested that PLTR would suffer a sharp drop in its share price. As expected, it lost over 20% in two days. We finished wave (III) at 125.41 but could not reach 127. The correction stopped at the 23.6% retracement of wave (III), indicating wave (IV) might have ended. If so, price action should have turned bullish towards 132.61 – 144.04 zone to complete wave I of (V). Otherwise, it could have dropped to 80.00 before rising again.

PLTR Daily Chart Analysis: June 02, 2025

Palantir’s stock not only plunged to 80.00 but also corrected in three waves, reaching 66.12 low in April. It fell to the 50% Fibonacci retracement of wave (III) retesting last wave IV prices. From there, the rally continued and broke above wave (III), confirming that wave (IV) had ended. Currently, Elliott wave analysis shows an impulse forming, possibly wave (V). Wave I of (V) peaked at 125.26, while wave II bottomed at 105.32. The price should keep rising to shape the impulse fractal. It is now in wave ((3)) of III. More bullish movement is expected toward 139.86 – 162.75 area, where the impulse may end. If no downward reaction occurs, wave III could extend further.

Palantir’s momentum signals a strong bullish cycle ahead, positioning the stock for further gains in the evolving market landscape. Therefore, the best strategy for now is buying dips. Trade Smart!

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SMH Finds Support After Double Correction, Wave (V) in Motion

May 13, 2025 By EWFLuis

The VanEck Semiconductor ETF (SMH) gives investors access to 25 major U.S.-listed semiconductor companies. The fund includes NVIDIA, Taiwan Semiconductor, Broadcom, Texas Instruments, QUALCOMM, ASML Holding, Applied Materials, Lam Research, Micron Technology, and AMD.

Analysts view SMH as a strong investment in a sector driving advancements in AI, cloud computing, and high-performance computing. While volatile, experts emphasize long-term growth, supported by rising demand for AI, 5G, and autonomous vehicles. Despite market fluctuations, SMH often outperforms when investor sentiment improves.

Investors closely monitor global supply chains, trade policies, and new chip innovations, which could shape future growth. With these factors influencing the market, SMH remains an attractive option for exposure to the semiconductor industry.

Last SMH Daily Chart January 16th

Earlier this year, on January 16, 2025, we analyzed the VanEck Semiconductor ETF (SMH) and observed its sideways movement between $230 and $260 in the daily timeframe. As expected, the market rallied from $222.20, but momentum failed to break previous highs or reach the $269.50 level. Consequently, we adjusted our chart and identified Wave I as a leading diagonal that ended at $262.26. Since October 2024, the price traded within a Wave II correction, which we classified as a running flat correction.

At that time, we believed Wave III had already started, with Wave ((1)) of III topping at $257.20 before entering a Wave ((2)) pullback. As long as price action held above $240.62, we expected a bullish move targeting a break above $283.07.

However, while we favored the running flat correction scenario for Wave II, we acknowledged the possibility of an expanded flat correction. If the market had fallen below $240.62, SMH would have likely extended its decline toward the $235.29 – $228.61 range before completing Wave II and resuming its upward trend. (If you want to learn more about flat corrections, please follow these links: and .)

SMH Daily Chart May 13th

In our latest update, we observed that the zigzag correction (a, b, c) failed, leading to a double correction (w, x, y). This aligns with the fundamental concept that corrections move in 3, 7, or 11 swings, forming a simple correction, a double correction, or a triple correction. As analysts, we must assess which of these three scenarios is most likely to occur.

When wave (C) of ((W)) broke below wave (A), it served as an early signal that a double correction might unfold. This was later confirmed when the August 2024 low was breached. From the wave (III) high, the first leg of the double correction formed as a zigzag, ending wave w at 200.49. Following that, another zigzag pattern developed, featuring two diagonals’ structures one leading and one ending which marked the completion of wave x at 269.66. Finally, the double correction in wave y wrapped up at 170.11, completing wave (IV) within the Fibonacci extension zone of 186.80 – 167.22 (100% – 123%).

Current Outlook & Strategy

At present, it is clear that SMH is developing an impulse from the 170.11 low. The primary expectation is for the upward movement to persist, supported by corrections in 3, 7, or 11 swings. Given this setup, the best strategy is to buy the dips, as the bullish trend remains intact.

Looking ahead, we are targeting the 309.83 – 353.03 zone as a potential area for wave (V) to complete. Once SMH reaches this range, a more significant correction in the market could follow.

Be good and Trade Smart!

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