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.
This content is provided for informational and educational purposes only and does not constitute trading, investment, or financial advice. PDP does not provide trade recommendations, entry or exit signals, or portfolio guidance.
Thanks for the comment. Yes, for now we wait. If/when wave-5 launches it won't be hard to tell!