NASDAQ: The Third Wave Isn’t DoneUS 100 IndexFX:NAS100Mehdi_Abbasi_EWP# NASDAQ: The Third Wave Is Not Done Yet On the monthly chart, NASDAQ is developing within a very large impulsive structure. At the current level, the highlighted fifth wave shows an interesting relationship: **Wave 1 and Wave 5 are approximately equal in length**, keeping the internal proportions of the impulse well balanced. More importantly, the larger-degree **Wave III has not yet reached 100% of Wave I**. This does not prove an extension, but from an Elliott Wave perspective, it leaves considerable room for Wave III to continue developing. The current structure is therefore being treated primarily as an **impulse**, with Waves 1 and 2 already developing and Wave 3 still unfolding. What makes the current structure even more interesting is what happened after the internal Wave 4. Price has developed **three nested 1–2 structures**. If this interpretation remains valid, these nested structures could represent preparation for a stronger third wave at lower degrees. However, there is another possibility. A long third wave can sometimes develop into a structure that ultimately reveals **terminal characteristics**. If the current sequence fails to confirm the expected impulsive extension, the more conservative scenario would allow for a **terminal/ending diagonal structure** rather than assuming an extended third wave. For now, the aggressive interpretation favors continued development of Wave III, while the conservative interpretation keeps the possibility of a terminal structure open. **The market does not need to choose our scenario. Price development will determine which structure is actually unfolding.** — **Mr. Nobody | Elliott Wave Principle** Nasdaq 100 Index Jun 15 NASDAQ 100 (NDX) — Monthly Elliott Wave Roadmap