Elliott Wave Forecast Team
ElliottWave-Forecast.com
Short term Elliott Wave View in Nasdaq 100 ETF (QQQ) suggests that the rally from 2.22.2024 low is in progress as a 5 waves impulse. Up from 2.22.2024 low, wave ((i)) ended at 435.18 and dips in wave ((ii)) ended at 425.29. The ETF extended higher in wave ((iii)) towards 440.59 with internal subdivision as a double three. Down from wave ((iii)), wave (w) ended at 435.6 and wave (x) ended at 438.60. Wave (y) lower ended at 433.36 which completed wave ((iv)).
Up from wave ((iv)), wave (i) ended at 441.4 and pullback in wave (ii) ended at 438.57. The ETF extended higher in wave (iii) towards 446.58 and pullback in wave (iv) ended at 445.02. Final leg wave (v) ended at 446.77 which completed wave ((v)) of 1. Pullback in wave 2 unfolded as a zigzag structure. Down from wave 1, wave ((a)) ended at 440.31 and wave ((b)) ended at 444.02. Wave ((c)) lower ended at 433.65 which completed wave 2. Up from there, wave ((i)) ended at 442 and pullback in wave ((ii)) ended at 436.03. The ETF extended higher in wave (i) towards 446.72 and wave (ii) pullback ended at 441.87. Near term, as far as pivot at 421.43 low stays intact, expect pullback to find support in 3, 7, or 11 swing for further upside.
QQQ 60 minutes Elliott Wave chart
QQQ Elliott Wave video
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