A recent analysis of E-mini Nasdaq-100 Futures indicates a completed three-wave correction, forming an Elliott Wave Double Three pattern followed by a robust rally. The Futures is undergoing a three-wave pullback in wave (4) blue, suggesting further weakness toward the 24145\u201323097 range, where buying opportunities may arise. A bounce is anticipated from this Blue Box area.<\/p>\n
Buyers emerged at the Blue Box, and a subsequent bounce was observed. With wave (4) blue completed above 23905, wave (5) is now potentially unfolding, targeting new highs around the 26989 mark. The incomplete sequences from wave (3) blue are guiding the market’s expected path.<\/p>\n
We believe the recent dip in Nasdaq futures was a standard three-wave correction that has now completed its course. The sharp bounce from the 23905 level indicates that buyers have re-entered the market with conviction. This technical strength aligns with last week’s report showing November 2025 CPI cooling to 2.8%, giving the Federal Reserve more reason to remain on hold.<\/p>\n
For derivative traders, this suggests that using any minor pullbacks to establish bullish positions is the primary strategy. We are considering the market to be in an uptrend as long as it holds above the 23905 low. Selling out-of-the-money put spreads or buying call options could capitalize on this expected upward movement.<\/p>\n
The current rally is viewed as a fifth wave targeting the 26989 area in the near term. This aligns well with seasonal patterns, as we often see a “Santa Claus Rally” drive markets higher into the end of the year. We observed a similar pattern of late-year strength after a fall consolidation back in 2023.<\/p>\n
This positive outlook is supported by a stable economic backdrop, not one that is running too hot. The November nonfarm payrolls report showed the economy added a moderate 185,000 jobs, which was seen as ideal for sustaining growth without sparking inflation. Therefore, we see dips as buying opportunities within a larger uptrend.<\/p>\n
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