{"id":23548,"date":"2026-03-10T21:06:36","date_gmt":"2026-03-10T21:06:36","guid":{"rendered":"https:\/\/alchemymarkets.com\/?post_type=market_insights&#038;p=23548"},"modified":"2026-03-10T21:06:38","modified_gmt":"2026-03-10T21:06:38","slug":"nasdaq-wave-end-of-correction","status":"publish","type":"market_insights","link":"https:\/\/alchemymarkets.com\/it\/education\/market-insights\/elliott-wave\/nasdaq-wave-end-of-correction\/","title":{"rendered":"Nasdaq Elliott Wave: End of Correction?"},"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 ii rally.<br><\/li>\n\n\n\n<li><strong>Key Support Level:<\/strong> 24,629 &#8211; 24,842.<br><\/li>\n\n\n\n<li>If correct, wave ii could rally to 26,200 with higher levels possible.<br><\/li>\n<\/ul>\n\n\n\n<p>For the past 3 months, Nasdaq has traded in a sideways range. The range low experienced a retest this week. The decline leading into the low was sloppy and overlapping, but the rally from Monday appears to be impulsive.<\/p>\n\n\n\n<p>This implies another 3-5% rally may develop later this week pressuring 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=\"617\" src=\"https:\/\/alchemymarkets.com\/wp-content\/uploads\/2026\/03\/NDX_2026-03-10_15-55-51-1024x617.png\" alt=\"\" class=\"wp-image-23549\" srcset=\"https:\/\/alchemymarkets.com\/wp-content\/uploads\/2026\/03\/NDX_2026-03-10_15-55-51-1024x617.png 1024w, https:\/\/alchemymarkets.com\/wp-content\/uploads\/2026\/03\/NDX_2026-03-10_15-55-51-300x181.png 300w, https:\/\/alchemymarkets.com\/wp-content\/uploads\/2026\/03\/NDX_2026-03-10_15-55-51-768x463.png 768w, https:\/\/alchemymarkets.com\/wp-content\/uploads\/2026\/03\/NDX_2026-03-10_15-55-51-1536x926.png 1536w, https:\/\/alchemymarkets.com\/wp-content\/uploads\/2026\/03\/NDX_2026-03-10_15-55-51.png 1578w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>Our Elliott wave analysis of the Nasdaq 100 (NDX) chart shows the rally from the November 2025 low was a diagonal pattern, a <a href=\"https:\/\/alchemymarkets.com\/education\/strategies\/rising-wedge-pattern\/\">rising wedge<\/a>.<\/p>\n\n\n\n<p>The decline from the January high was sloppy and overlapping as well, indicative of a corrective pattern.<\/p>\n\n\n\n<p>From a larger perspective, this implies new all-time highs may be around the corner.<\/p>\n\n\n\n<p>When we look at the rally from Monday March 9 low, it appears to take the structure of an <a href=\"https:\/\/alchemymarkets.com\/education\/guides\/elliott-wave-theory\/\">Elliott wave impulse<\/a> pattern. This is likely wave \u2018i\u2019 of a larger impulse.<\/p>\n\n\n\n<p>If correct, then look for a temporary decline in wave \u2018ii\u2019 that may reach 24,629 &#8211; 24,842, which is guarded by the 38% and 61% <a href=\"https:\/\/alchemymarkets.com\/education\/indicators\/fibonacci-retracement\/\">Fibonacci retracement<\/a> levels.<\/p>\n\n\n\n<p>Once \u2018ii\u2019 is finalized, then a strong push higher in wave \u2018iii\u2019 may propel NDX up to retest all time highs near 25,200.<\/p>\n\n\n\n<p>If NDX declines back to and below <a href=\"https:\/\/alchemymarkets.com\/education\/guides\/support-and-resistance\/\">horizontal support <\/a>&nbsp;at 23,854, then we\u2019ll reconsider other bearish wave counts.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Bottom Line<\/strong><\/h2>\n\n\n\n<p>The structure of the rally from Monday, March 9 indicates NDX may be in the beginning stages of a rally to retest all-time highs near 26,200.<\/p>\n\n\n\n<p>A break below 23,854 will be reason to pause and consider alternate wave counts.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Nasdaq Elliott Wave analysis points to a rally to retest all-time highs. Look inside to read more and see key levels.<\/p>\n","protected":false},"author":160,"featured_media":23555,"parent":0,"comment_status":"open","ping_status":"closed","template":"","market_insights_categories":[16],"class_list":["post-23548","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: End of Correction? - Alchemy Markets<\/title>\n<meta name=\"description\" content=\"Nasdaq Elliott Wave analysis points to a rally to retest all-time highs. 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