NASDAQ in potential ending diagonal formation
#NASDAQ has recently completed a Wave 4 correction within a classic ending diagonal structure, finding strong support between the critical demand zone of 350–377. This region has held firmly, affirming #bullish structural integrity and reinforcing the likelihood of a new impulsive phase.
Price action is now coiling just below 441.70, a key resistance level. A decisive breakout above this threshold would confirm the initiation of Wave 5, targeting the projected upper boundary of the macro channel around 563 a confluence zone of both Fibonacci extensions and historical resistance.
The structure remains bullish as long as the 350–377 zone is respected. A clean move above 441.70, ideally backed by increasing volume and momentum indicators, would validate the bullish continuation setup and unlock the next phase of upside potential.
This setup offers a compelling risk-to-reward narrative, aligning with long-term trend dynamics and classical Wave theory.
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