Nasdaq-100 Wave Analysis 8 October 2024

– Nasdaq-100 reversed from support zone

– Likely to rise to resistance level 20340.00

Nasdaq-100 index today reversed up from the support zone located between the pivotal support level 19680.00 (former top of wave b from the start of September) intersecting with the 20-day moving average.

The upward reversal from this support zone stopped the previous short-term correction ii.

Given the clear daily uptrend, Nasdaq-100 index can be expected to rise further to the next resistance level 20340.00, high of the previous impulse wave i.