Nikkei (NKD) 60 Minute Elliott Wave Chart
NKD Elliott Wave Video
The short‑term Elliott Wave perspective on Nikkei Futures (NKD) reveals that the pattern beginning at the July 29 2026 low is evolving as a five‑wave diagonal. Wave 1 climbed to 69,660, followed by a corrective wave 2 that bottomed at 62,600. The index then surged in wave 3, peaking at 71,540. Presently, wave 4 is shaping as a seven‑swing double‑three correction, indicating a complex retracement within the diagonal structure.
After the wave 3 peak, a decline formed wave ((w)), ending at 69,235 in a zigzag configuration. Wave ((x)) subsequently initiated a rally to offset the October 6 2026 high. Once this corrective rally concludes, the index is projected to resume a downward trajectory in wave ((y)), completing the broader wave 4 correction.
In the near term, maintaining the pivotal level at 64,946 should provide support for the ongoing pullback within the seven‑swing structure. Corrective phases typically reset momentum while preserving the overall bullish bias. Consequently, the outlook remains oriented toward further upside once the consolidation phase ends. The Elliott wave framework since late July continues to appear constructive, suggesting that buyers are likely to re‑enter the market after the present correction.
