{"id":16913,"date":"2025-11-24T21:31:36","date_gmt":"2025-11-24T21:31:36","guid":{"rendered":"https:\/\/alchemymarkets.com\/?post_type=market_insights&#038;p=16913"},"modified":"2025-11-24T21:32:41","modified_gmt":"2025-11-24T21:32:41","slug":"nasdaq-100-wave-4-support","status":"publish","type":"market_insights","link":"https:\/\/alchemymarkets.com\/it\/education\/market-insights\/elliott-wave\/nasdaq-100-wave-4-support\/","title":{"rendered":"Nasdaq Elliott Wave: Wave 4 Support"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\"><strong>Executive Summary<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Trend Bias:<\/strong> Wave 4 temporary correction.<br><\/li>\n\n\n\n<li><strong>Key Support Level:<\/strong> 23,854 &#8211; 22,521.<br><\/li>\n\n\n\n<li>If correct, wave 5 could rally to 25,950-27,301.<br><\/li>\n<\/ul>\n\n\n\n<p>Back on October 7, we analyzed <a href=\"https:\/\/alchemymarkets.com\/education\/market-insights\/elliott-wave\/nasdaq-100-diverging-rsi\/\">Nasdaq 100 (NDX) and the diverging RSI<\/a> hinted of an incoming bearish reversal. Turns out, there was a relatively small reversal on October 10 at -3.5% that was quickly retraced and led to new all-time highs.<\/p>\n\n\n\n<p>Then, beginning October 29, NDX began another decline of nearly -8.9%. The structure of the decline hints that it is a corrective decline eventually leading to new all-time highs.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Current Elliott Wave Analysis<\/strong><\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"794\" src=\"https:\/\/alchemymarkets.com\/wp-content\/uploads\/2025\/11\/NDQ_2025-11-24_14-39-13-1024x794.png\" alt=\"\" class=\"wp-image-16914\" srcset=\"https:\/\/alchemymarkets.com\/wp-content\/uploads\/2025\/11\/NDQ_2025-11-24_14-39-13-1024x794.png 1024w, https:\/\/alchemymarkets.com\/wp-content\/uploads\/2025\/11\/NDQ_2025-11-24_14-39-13-300x232.png 300w, https:\/\/alchemymarkets.com\/wp-content\/uploads\/2025\/11\/NDQ_2025-11-24_14-39-13-768x595.png 768w, https:\/\/alchemymarkets.com\/wp-content\/uploads\/2025\/11\/NDQ_2025-11-24_14-39-13.png 1173w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>Our Elliott wave analysis of the Nasdaq 100 (NDX) chart hints the rally that began in April has reached the end of its 3rd wave.<\/p>\n\n\n\n<p>The 3rd wave of an <a href=\"https:\/\/alchemymarkets.com\/education\/guides\/elliott-wave-theory\/\">Elliott wave impulse<\/a> pattern needs to subdivide in 5 waves and we can count those waves in place from the April 21 low labeled ((i))-((ii))-((iii))-((iv))-((v)).<\/p>\n\n\n\n<p>This suggests the correction from October 29 is wave 4 of a larger 5-wave impulse pattern. Wave 4 and wave 2 are cousin waves\u2026they are similar, but tend to alternate in qualities. They should be similar in the depth of their corrections.<\/p>\n\n\n\n<p>Wave 2 of the impulse pattern (in April 2025) corrected -8% as a zigzag pattern. Wave 4, so far, has corrected about -8.9%, similar to wave 2. Additionally, wave 4 has reached the 23.6% <a href=\"https:\/\/alchemymarkets.com\/education\/indicators\/fibonacci-retracement\/\">Fibonacci retracement<\/a> level of the distance of wave 3 (not pictured).&nbsp;<\/p>\n\n\n\n<p>This is common for wave 4 to correct between 23-50% of wave 3.&nbsp;<\/p>\n\n\n\n<p>Lastly, the decline from last week has reached <a href=\"https:\/\/alchemymarkets.com\/education\/guides\/support-and-resistance\/\">horizontal support <\/a>from the previous 4th wave <a href=\"https:\/\/alchemymarkets.com\/education\/strategies\/symmetrical-triangle-pattern\/\">symmetrical triangle pattern<\/a>.<\/p>\n\n\n\n<p>As a result, the decline to the Friday, November 21 low, may be all or part of wave 4.&nbsp;<\/p>\n\n\n\n<p>When wave 5 begins, we anticipate a rally that may reach 25,950, 27,301, and possibly 29,635 based on common <a href=\"https:\/\/alchemymarkets.com\/education\/indicators\/fibonacci-extensions\/\">Fibonacci extension ratios<\/a>.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Bottom Line<\/strong><\/h2>\n\n\n\n<p>The structure of the decline in NDQ appears to be of a corrective pattern. Therefore, the decline is forecasted to be temporary in wave 4 and lead to a new high in wave 5.<\/p>\n\n\n\n<p>Wave 5 targets include 25,950 &#8211; 27,301.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Nasdaq 100 Elliott Wave analysis (NDX) points to temporary corrective decline followed by new all-time highs. See key levels inside.<\/p>\n","protected":false},"author":160,"featured_media":16917,"parent":0,"comment_status":"open","ping_status":"closed","template":"","market_insights_categories":[16],"class_list":["post-16913","market_insights","type-market_insights","status-publish","has-post-thumbnail","hentry","market_insights_categories-elliott-wave"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Nasdaq Elliott Wave: Wave 4 Support - Alchemy Markets<\/title>\n<meta name=\"description\" content=\"The Nasdaq 100 Elliott Wave analysis (NDX) points to temporary corrective decline followed by new all-time highs. 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