Nasdaq-100 Wave Analysis 7 February 2024

– Nasdaq-100 rising inside impulse wave 5

– Likely to rise to resistance level 18000.00

Nasdaq-100 index rising steadily after the price reversed up from the support level 17565.00, former resistance which stopped wave 3 in January.

The upward reversal from the support level 17565.00 continues the active impulse wave 5 of the intermediate impulse sequence (3) from the start of the year.

Given the clear daily uptrend, Nasdaq-100 index can be expected to rise further to the next resistance level 18000.00, target for the completion of the active impulse wave 5.