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A recent technical analysis of Nasdaq Futures (NQ) using Elliott Wave theory indicates that the index is nearing the completion of a major bullish cycle originating from the March 2026 low. According to ActionForex, the price rally has developed into a classic five-wave impulsive structure, highlighting the strength of the recent uptrend. Wave ((i)) concluded at the 24,348.25 level, setting the stage for subsequent waves within this technical pattern. As the price cycle reaches a phase of maturity, analysts are monitoring for a potential corrective phase or a shift in the prevailing trend. This technical outlook reflects market caution regarding the sustainability of the current momentum in the tech-heavy index. Traders are advised to watch key support and resistance levels as the final sub-waves approach completion.
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