Elliott Forecast - QQQ Looking to Complete 5 Waves Rally | ResearchPool

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Elliott Forecast

Daud Bhatti

QQQ Looking to Complete 5 Waves Rally

Short Term view in QQQ suggests that rally from 1.5.2024 low is in progress as a 5 waves structure. Up from 1.5.2024 low, wave ((i)) ended at 411.36 and dips in wave ((ii)) ended at 402.92. The ETF then extended higher in wave ((iii)) as another impulse in lesser degree. Up from wave ((ii)), wave (i) ended at 412.99 and pullback in wave (ii) ended at 409.16. The ETF extended higher again in wave (iii) towards 424.73 and pullback in wave (iv) ended at 420.57. Final leg higher wave (v) ended at 429.85 which completed wave ((iii)) in higher degree.

Pullback in wave ((iv)) unfolded as a zigzag structure. Down from wave ((iii)), wave (a) ended at 424.51, and wave (b) ended at 429.04. Wave (c) lower ended at 422.28 which completed wave ((iv)). The ETF has turned higher in wave ((v)) with internal subdivision as an impulse. Up from wave ((iv)), wave (i) ended at 426.67 and dips in wave (ii) ended at 423. Expect the ETF to extend higher in wave (iii) of ((v)). Near term, as far as pivot at 402.87 low stays intact, expect pullback to find support in 3, 7, or 11 swing for further upside.

QQQ 30 Minutes Elliott Wave Chart

QQQ Elliott Wave Video

-forecast.com/news/qqq-looking-complete-5-waves-rally/

30/01/2024 1 EN

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Elliott Forecast

Elliott Forecast

Elliottwave-Forecast.com (by EME PROCESSING AND CONSULTING LLC) was founded in 2005 by Eric Morera. Since inception our company has provided tailored Financial Market Services to thousands of clients. ElliottWave-Forecast has built a reputation on accurate technical analysis and a winning attitude. By successfully incorporating the Elliott Wave Theory with Market Correlation, Cycles, Proprietary Pivot System, we provide precise forecasts with up-to-date analysis for 52 instruments including FX majors, Gold, Silver, Copper, Oil, TNX and major Equity Indices. Our clients also have immediate access to our proprietary Actionable Trade Setups, Market Overview, 1 Hour, 4 Hour, Daily & Weekly Wave Counts. Weekend Webinar, Live Screen Sharing Sessions, Daily Technical Videos, Educational Resources, and 24 Hour chat room where they are provided live updates and given answers to their questions.

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Daud Bhatti

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