This update reviews the QQQ’s current market structure and pattern development using orthodox NEoWave logic and analysis.
6-Monthly Chart
A closer look at Wave-(4) shows that wave-E is finishing up a Neutral Triangle but has not confirmed complete. It is possible that wave-D started later (in 2022) and we may need to adjust this count. But for now this count is aligned with my Nasdaq 100 (NDX) count.
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. Will track further development as wave-(e) has more time to burn.
Bottom Line
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) and we can mark the lows for the next 20-30 years and the real bull market will begin. Be patient.
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.