Nasdaq Forecast

Nasdaq 100 (NAS100) maintains a bearish outlook on the 4-hour chart, with the displayed price at 29,435.11. The Elliott Wave count identifies purple wave (i) at the recent low and purple (ii) at the subsequent corrective high, followed by a decline into blue wave i and an ongoing rebound toward blue wave ii. Compared with our previous analysis dated October 26, 2026, the rebound has developed toward the anticipated Fibonacci resistance zone, while the broader bearish scenario remains valid. The annotated path suggests a final corrective advance toward the 61.8% retracement near 29,550 before renewed selling pressure targets 28,841.64. The scenario remains valid below the marked invalidation level at 29,956.73.

Technical Summary of Nasdaq 100 Price for October 27, 2026

• Trend: Bearish.
• Current Elliott Wave: Blue i labeled; blue ii projected following purple (ii).
• Key Support Levels: 28,841.64; approximately 28,750.
• Key Resistance Levels: 29,435–29,550; 29,956.73.
• Next Price Target: Approximately 29,550 corrective rebound, then 28,841.64.
• Invalidation Level: 29,956.73.
• Fibonacci Levels: 50.0% near 29,400; 61.8% near 29,550.

Trader's Question: Will NAS100 complete its corrective rebound before resuming the decline?

The projected path favors a test of the 61.8% retracement before renewed weakness toward 28,841.64. A sustained break above 29,956.73 would invalidate the annotated bearish scenario.

NASDAQ 100 remains bearish on the 4-hour chart, with the displayed price at 29,109.45. The Elliott Wave count preserves the completed decline labeled blue i–v, ending at purple wave (i), followed by a W-X-Y correction completing wave (ii). The subsequent decline is labeled blue wave i, while wave ii is projected toward the 50% Fibonacci area near 29,400 before another downward extension. Since October 23, price has stabilized near 29,100, but no bullish structural reversal is confirmed. The chart identifies 28,841.64 as a further-downside objective, with the blue projection extending toward approximately 28,700. A sustained break below 28,841.64 would reinforce bearish continuation, while recovery above 29,956.73 would invalidate the annotated bearish setup.

Technical Summary of NASDAQ 100 Price for October 26, 2026

• Trend: Bearish.
• Current Elliott Wave: Blue wave i labeled after purple (ii); blue wave ii projected upward.
• Key Support Levels: 28,841.64 (annotated downside objective); approximately 28,700 (projected).
• Key Resistance Levels: Approximately 29,400 (50% Fibonacci); 29,956.73.
• Next Price Target: Approximately 29,400 rebound, followed by 28,841.64 and potentially 28,700.
• Invalidation Level: 29,956.73 (annotated).
• Fibonacci Levels: 50.0% retracement near 29,400, projected wave ii resistance.

Trader's Question: Can NASDAQ 100 complete wave ii before another bearish extension?

A rejection near the 50% Fibonacci retracement would support renewed selling pressure, while a break below 28,841.64 would strengthen the projected decline.