Technology Sector in Corrective Setback Within Uptrend – Elliott Waves on Nasdaq100

<section itemscope="itemscope" itemtype="https://schema.org/BlogPosting" itemprop="blogPost"><div itemprop="text"><p>The USD experienced a strengthening last week while stocks faced a decline, which was influenced by Powell&#8217;s statement suggesting the possibility of raising interest rates once or twice more this year.</p>
<p><span></span></p>
<p>Consequently, the NASDAQ100 exhibited a significant pullback, which, according to the Elliott wave theory, may be a temporary occurrence. It is noteworthy that prior to this pullback, there was a retest of the 161.8% Fibonacci extended target, which is considered an ideal zone for the end of an extended 3rd wave. Typically, this extended third wave forms part of an impulsive structure consisting of five subwaves. Therefore, we believe that the ongoing pullback represents the fourth wave within this bullish impulse, and it would be prudent to monitor the 38.2% Fibonacci level as a potential new swing zone, in accordance with Elliott wave principles and guidelines.</p>
<p>That being said, there is a chance that market will continue to rise at the start of July, and maybe Tesla, as well as cryptos can see even more gains after current pullbacks.</p>
<p><em>NASDAQ100 Elliott Wave Count vs TESLA vs CRYPTO TOTAL CAP -4h</em></p>
<p><span lang="SL">Trade well, </span></p>
<p><span lang="SL">Grega</span></p>
<p><a href="https://twitter.com/GregaHorvatFX">@gregahorvatfx</a></p>
</div></section>
<div itemprop="ImageObject" itemscope="itemscope" itemtype="https://schema.org/ImageObject"><div><a href="https://www.forexanalytix.com/blog/wp-content/uploads/2023/06/nasdaq100-800×653.png"><img class="avia_image " src="https://www.forexanalytix.com/blog/wp-content/uploads/2023/06/nasdaq100.png" alt="nasdaq100" title="nasdaq100" itemprop="thumbnailUrl" /></a></div></div>
<section itemscope="itemscope" itemtype="https://schema.org/BlogPosting" itemprop="blogPost"><div itemprop="text"><p>====================================================================</p>
<p><strong>Supercharge Your Trading!</strong></p>
<p>If you want to access a live trading account, visit the <strong><a href="https://traderfundingprogram.com/?ref=wtgew22">Trader Funding Program</a> </strong>by Forex Analytix</p>
<p>Pass the assessment and access live funds!</p>
<p>Grega Horvat</p>
<p>Forex Analytix</p>
<p><a href="https://traderfundingprogram.com/?ref=stelios"><img decoding="async" class="aligncenter wp-image-10111 size-full" src="https://www.forexanalytix.com/blog/wp-content/uploads/2022/12/TFP-728×90-2.png" alt="" width="728" height="90" srcset="https://www.forexanalytix.com/blog/wp-content/uploads/2022/12/TFP-728×90-2.png 728w, https://www.forexanalytix.com/blog/wp-content/uploads/2022/12/TFP-728×90-2-400×49.png 400w, https://www.forexanalytix.com/blog/wp-content/uploads/2022/12/TFP-728×90-2-705×87.png 705w, https://www.forexanalytix.com/blog/wp-content/uploads/2022/12/TFP-728×90-2-450×56.png 450w" sizes="(max-width: 728px) 100vw, 728px" /></a></p>
</div></section>
<p>The post <a rel="nofollow" href="https://www.forexanalytix.com/blog/technology-sector-in-corrective-setback/">Technology Sector in Corrective Setback Within Uptrend &#8211; Elliott Waves on Nasdaq100</a> appeared first on <a rel="nofollow" href="https://www.forexanalytix.com/blog">ForexAnalytix – Blog</a>.</p>