This update reviews the QQQ’s current market structure and pattern development using orthodox NEoWave logic and analysis.
QQQ is completing the same 26-year running bear market correction as the S&P 500 which everyone thought was the “bull market”. We need to get through the end of Wave-(4) then the real bull market will begin.
6-Monthly Chart
A closer look at Wave-(4) shows that wave-E is finishing up a Neutral Triangle but has not confirmed complete. When finished Wave-(5) should commence with all degrees going to the upside and very powerful upside potential.
Monthly Chart
Zooming in on Wave-E of (4), yet another Neutral Triangle is forming and nearing completion. Fractals are common as the pattern repeats itself.
Weekly Chart
A closer look at the developing Wave-(e) of E:
Waves-b of (e) is a strong running correction lifting the market higher.
Wave-c of (e) appears to confirm complete at the small degree and we will track further development as wave-(e) has more time to burn.
Bottom Line
QQQ is completing a 26-year running bear market correction. We need to get through the end of Wave-(4) which is completing wave-E then the real bull market will begin.
Thanks for the comment. Yes, for now we wait. If/when wave-5 launches it won't be hard to tell!
The nested triangle structures are fascinating. Seeing wave-E of (4) forming another neutral triangle inside the larger pattern is textbook fractal behavior, but it also means we're probably in for more chop before any real breakout. What's interesting is how this multi-decade perspective reframes what most people think of as "the bull market" since 2000. If wave-(5) does materialize with all degrees aligned, the implication is that tech/growth could see a much stronger move than what we've seen so far. The tricky part is timing the completion of wave-(e) since triangles have a tendency to drag out longer than expected, especialy when they nest like this.