QQQ Archives - Page 2 of 3 - Elliott Wave Forecast

Nasdaq ETF (QQQ): Elliott Wave Forecasting the Future Path

January 2, 2025 By EWF Vlada

Hello traders and investors! In this technical article, we’re going to take a quick look at the Elliott Wave charts of the Nasdaq ETF QQQ, published in the members area of the website. As our members know, QQQ is showing impulsive bullish sequences in the cycle from the August 420.16 low. As a result, we are favoring long side at this stage. However, we believe the H4 pullback is still incomplete and could provide another leg down. We will explain the reasons behind this Elliott Wave forecast and how to trade it further in this article.

QQQ H1 Update 12.24.2024

The ETF shows 5 waves down from the 539.15 peak, suggesting we have ended only a first leg of potential Zig Zag pattern. QQQ is currently doing 3 waves recovery against the 539.15 high, labeled as (B) blue. Structure of the bounce looks incomplete, suggesting another leg up ideally before turn lower takes place .

Reminder : You can learn more about Elliott Wave Patterns at our Free Elliott Wave Educational Web Page.

QQQ H1 Update 12.31.2024

QQQ made the proposed leg up and completed a 3-wave recovery at the 531.3 high. We consider the (B) recovery complete there. As long as the price remains below that level, we expect further weakness in the (C) leg. We don’t recommend selling against the main bullish trend and will use the (C) leg as a new buying opportunity if the next extreme zone is reached.

You can find detailed information on this trading setup in the membership area and in the Live Trading Room

90% of traders fail because they don’t understand market patterns. Are you in the top 10%? Test yourself with this advanced Elliott Wave Test

Elliott Wave Forecast

Thank you for exploring our Trading Forecast of QQQ with us. While we provide insights on 78 instruments, it’s important to note that not every chart is a trading recommendation. For our official trading recommendations, join us in our Live Trading Room where we provide actionable insights in real-time. If you’re not yet a member, take advantage of our 14-Day Trial now to access new trading opportunities.

Over time, we’ve honed a reputable trading strategy that accurately defines entry, stop loss, and take profit levels. By joining us, you’ll have the opportunity to learn from market experts and improve your trading skills.

Join us today !

📈 Elevate your trading with Elliott Wave Forecast!

🔍 Explore our expert insights and real-time analysis covering Forex, Indices, Commodities, Cryptocurrencies, Stocks, and ETFs across 78 instruments.

📊 Gain exclusive access to our Official Trading Recommendations in the Live Trading Room, where seasoned experts provide valuable insights and guidance on new trading opportunities.

💰 For just $9.99, unlock a wealth of knowledge and experience with our 14-day Trial. Experience firsthand our proven trading strategy, which accurately defines Entry, Stop Loss, and Take Profit levels, empowering you to make informed decisions with confidence.

👉 Ready to take the next step? Sign up now and seize the opportunity to enhance your trading performance. Click here to start your Trial today!

QQQ Found Intraday Buyers Again at the Blue Box Area

November 5, 2024 By EWF Vlada

Hello fellow traders. In this technical article we’re going to take a quick look at the weekly Elliott Wave charts of QQQ Invesco NASDAQ ETF, published in members area of the website. As many of our members are aware, the ETF is forming impulsive 5 waves rally in the cycle from the 420 low and it has given us good buying opportunities recently. QQQ made another pull back that reached extreme zone from the peak completed a correction at the Equal Legs (Blue Box Area). In the following sections, we’ll take a look into the Elliott Wave pattern and our forecast.

QQQ H1 Update 11.01.2024

ETF is giving us correction that is unfolding as 3 waves pattern , labeled as (((a))((b))((c)) black. The pullback has already reached the extreme zone (Blue Box) . However we expect to see another marginal push down in near term. At this stage, we advise against selling the ETF and expect buyers to appear at the marked Blue Box area. QQQ could either see a rally to new highs or a corrective bounce in at least three waves.

If you want to learn more about Elliott Wave Patterns, we invite you to explore our Free Elliott Wave Educational Web Page.

QQQ H1 Update 11.03.2024

ETF responded exactly as anticipated at the Blue Box Area. We got another marginal low and buyers appeared. QQQ made decent bounce from the buyers zone – Blue Box area. Bounce has reached 50 fibs against the connector’s peak ((b)) high, so any longs from there should be already risk free.

Keep in mind not every chart is trading recommendation. For the latest updates, refer to the most recent charts available in our membership area. We focus on trading instruments with incomplete bullish or bearish swing sequences. The Live Trading Room highlights the best opportunities in real-time.

Elliott Wave Forecast

Thank you for exploring our QQQ Elliott Wave Forecast with us. While we analyze 78 different instruments, it’s important to understand that not every chart is a trading recommendation. Therefore, for our official trading recommendations, we invite you to join us in our Live Trading Room. There, we provide actionable insights in real-time. If you’re not yet a member, you can take advantage of our 14-Day Trial to discover new trading opportunities.

Over time, we have refined a reputable trading strategy that accurately defines entry points, stop losses, and take profit levels. Consequently, by joining us, you will have the opportunity to learn from market experts and improve your trading skills.

Join us today !

📈 Elevate your trading with Elliott Wave Forecast!

🔍 Explore our expert insights and real-time analysis covering Forex, Indices, Commodities, Cryptocurrencies, Stocks, and ETFs across 78 instruments.

📊 Gain exclusive access to our Official Trading Recommendations in the Live Trading Room, where seasoned experts provide valuable insights and guidance on new trading opportunities.

👉 Ready to take the next step? Sign up now and seize the opportunity to enhance your trading performance. Click here to start your Trial today!

Back

QQQ Produced Perfect Reaction Higher From Blue Box Area

October 29, 2024 By Hassan Sheikh

In this technical blog, we will look at the past performance of the 1-hour Elliott Wave Charts of QQQ. We presented to members at the elliottwave-forecast. In which, the rally from the 05 August 2024 low unfolded as an impulse structure and showed a higher high sequence. Suggested that ETF should see more upside extension to complete the impulse sequence. Therefore, we advised members not to sell the ETF & buy the dips in 3, 7, or 11 swings at the blue box areas. We will explain the structure & forecast below:

QQQ 1-Hour Elliott Wave Chart From 10.23.2024

Here’s the 1-hour Elliott wave chart from the 10.23.2024 Midday update. In which, the short-term cycle from the 10.01.2024 low ended in wave ((i)) as impulse at $498.83 high. Down from there, the ETF made a pullback in wave ((ii)) to correct that cycle. The internals of that pullback unfolded as Elliott wave zigzag structure where wave (a) ended at $487.57 low. Wave (b) bounce ended at $497.44 high and wave (c) managed to reach the blue box area at $486.19- $479.21. From there, buyers were expected to appear looking for the next leg higher or for a 3 wave bounce minimum.

QQQ Latest 1-Hour Elliott Wave Chart From 10.29.2024

This is the latest 1-hour Elliott wave Chart from the 10.29.2024 Post-Market update. In which the ETF is showing a reaction higher taking place, right after ending the zigzag correction within the blue box area. Allowed members to create a risk-free position shortly after taking the long position at the blue box area. Since then the ETF has managed to make a new high above $498.83 high confirming the next extension higher towards $506.53- $519.81 area before profit taking & a pullback happens in another 3 swings at least.

If you are looking for real-time analysis in QQQ along with the other Stocks & ETFs then join us with a 14-Day Trial for the latest updates & price action.

Success in trading requires proper risk and money management as well as an understanding of Elliott Wave theory, cycle analysis, and correlation. We have developed a very good trading strategy that defines the entry.

Stop loss and take profit levels with high accuracy and allow you to take a risk-free position, shortly after taking it by protecting your wallet. If you want to learn all about it and become a professional trader. Then join our service by taking a Trial.

Micron Technology Inc (MU) Ended the Cycle from December 2022 Low

October 17, 2024 By EWFLuis

Micron Technology, Inc. (MU) designs, develops, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Embedded Business Unit, and Storage Business Unit. Micron Technology, Inc. was founded in 1978 and is headquartered in Boise, Idaho.

MU Weekly Chart March 2023

As we see in the chart above, we ended an impulse as wave I at $96.96 high. Then, the market did an expanded flat correction (3-3-5) causing the price to drop to $48.43. We labelled this low as wave II. From here, we expected to continue the rally as long as the price stays above wave II. (If you want to learn more about flat corrections, please follow these links: Elliott Wave Education and Elliott Wave Theory).

MU Weekly Chart July 2024

In July, we adjusted the labels by calling (I) and (II) where waves I and II were on the chart a year ago. As you could see, MU hit the bottom and started a new bullish cycle breaking above $150.00. This generated a return of more than 200% of the capital. We called a wave III of (III) at $157.54 high and wave IV ended at $127.27 low. We expected to trade higher in wave V of (III) to reach the ideal zone of $164.83 – $176.47 where we should see a market reaction.

MU Weekly Chart October 2024

This is the latest update of Micron. Wave IV failed to withstand the market onslaught and broke below $127.27. This ended the cycle that started in December 2022 and we adjusted the movement as wave I of (III) ended at $157.57 high. MU did a bearish impulse ending at $84.12 low and we called it wave ((A)) of II. Currently, it is trading in the corrective wave ((B)). Wave (A) ended at $106.75 high. The correction ended wave (B) at $98.94 low. Now wave (C) has already started a new rally and we expect to reach the $130.03 – $149.15 area to culminate wave ((B)) and turn lower in ((C)). The idea is valid as long as the market stays below $157.57 or above $48.43. If the market breaks above wave I, then wave II is most likely over.

Elliott Wave Forecast

www.elliottwave-forecast.com updates one-hour charts 4 times a day and 4-hour charts once a day for all our 78 instruments. We do a daily live session where we guide our clients on the right side of the market. In addition, we have a 24 hours chat room where we will help you with any questions about the market.

14 Days Trial costs $9.99 only. Cancel anytime at support@elliottwave-forecast.com

QQQ (Nasdaq ETF) reaches risk free area from blue box

October 9, 2024 By EWFSanmi

Hello traders. Welcome to a new ‘blue box’ blog post where we discuss our most recent trade setups shared with Elliottwave-Forecast members. In this one, we will discuss the Qs – QQQ (Investico QQQ ETF).

The Invesco QQQ ETF tracks the Nasdaq-100 Index, focusing on 100 large non-financial companies, mainly in technology, healthcare, and consumer sectors. It’s a popular choice for investors seeking exposure to large-cap tech companies.

The post-COVID recovery for U.S. markets began in October 2022, and since then, the market has sustained a bullish cycle, producing a series of higher highs and higher lows. In such bullish sequences, we prefer to buy pullbacks in 3, 7, or 11 swings. The QQQ ETF has followed a similar pattern, with its price recovering from every pullback before July 2024.

Notably, the bullish impulse sequence that started in October 2022 still appears incomplete, leading us to continue buying this ETF on dips. The most recent pullback occurred between July and August 2024, followed by a resurgence that has yet to break the previous high from July 2024. However, a higher-high sequence emerged when the ETF breached its August high, presenting an opportunity within the shorter cycles.

QQQ Elliott Wane Analysis – 10.01.2024 Update

We identified an impulse wave sequence in the shorter cycles after the price broke above the August 2024 high. Consequently, we informed our members that we would look to buy the next 3, 7, or 11 swings pullback at the equal leg. To illustrate this, the abridged chart above illustrated end of wave 4, highlighting the blue box area, indicating a buy at 477/478 with a stop at 470.

Our plan was to adjust the stop to either the entry point or the low of wave (c) once the price made a significant bounce to what we call the “risk-free area.” At that point, we typically close half of the position for profit and reduce the stop on the remaining portion. This strategy aims to create a risk-free trade.

QQQ Elliott Wane Analysis – 10.09.2024 Update

We shared the chart on 10/09/2024, showing the expected price bounce from the blue box. Members have already closed half of their positions for profit and adjusted the rest to breakeven. This allows them to hold the remaining position risk-free until the target is reached. This frees up capital to allocate toward other opportunities. However, if the price turns lower from this point to form a deeper wave 4, we won’t hesitate to buy again. In that case, we will provide an updated chart with a new blue box for members to follow.

About Elliott Wave Forecast

At www.elliottwave-forecast.com, we update one-hour charts four times daily and four-hour charts once daily for all 78 instruments. We also conduct daily live sessions to guide clients on the right side of the market. Additionally, we have a chat room where moderators answer market-related questions. Experience our service with a 14-day trial for only $9.99. Cancel anytime by contacting us at support@elliottwave-forecast.com.

CrowdStrike (CRWD) Is Not Ready to Resume that Rally. Bull Trap Ahead.

September 2, 2024 By EWFLuis

CrowdStrike Holdings, Inc. (CRWD) is an American cybersecurity technology company based in Austin, Texas. It provides cloud workload and endpoint security, threat intelligence, and cyberattack response services.

CrowdStrike (CRWD) July 2021 Daily Chart

The chart above shows the daily view that we forecast 3 years ago. We were expecting to end an very important market cycle in the blue box area between 303.60 – 271.69. This cycle would end an impulse on CRWD since it listed on the stock exchange. Once the impulse would end as wave (I), we expected a big correction as wave (II). (If you want to learn more about Elliott Wave Theory, follow these links: Elliott Wave Education and Elliott Wave Theory).

CrowdStrike (CRWD) February 2022 Daily Chart

Six months later, We can see the wave (I) ended in the proposed blue box area at 298.48 high developing an ending diagonal. The market reacted perfectly to the downside and we called completed a double correction as wave (II) at 150.02 low. Exactly at the 50% Fibonacci retracement, the stock bounce suggesting the pullback was over and the rally should continue to break 298.48 high in a new cycle.

CrowdStrike (CRWD) August 2024 Daily Chart

After 3 years, we have above the current weekly chart. We can see the cycle we called completed the wave (II) at 150.02, it just was part of a bigger double correction. Therefore, the cycle that ended at 150.02 was wave “w”, then we have expanded flat correction as wave “x” ending at 205.73. Last push lower finished wave “y” at 92.25 low completing wave (II) pullback. The rally we thought went to start in Jan 2022, started at Jan 2023.

From 92.25 low, CRWD built a clear impulse to the upside. Wave ((1)) ended at 166.99 and pullback as wave ((2)) ended at 140.52 low. Then, it had a big rally reaching all time new highs at 365.00 ending wave ((3)). Wave ((4)) finished at 280.88 low and rally again to complete wave ((5)) at 398.33 and also wave I of (III). After this wave I, we can see a very sharp drop making the stock to lose 50% of his value. As last time, with this pullback wave II could be complete already. However, we are calling as part of a bigger wave II. The global market is showing some relative bullish exhaustion that could send the stock to see more downside. Wave ((A)) of wave II ended at 200.81 and we are expecting a corrective rally to stay below 398.33 high. Then market should resume lower in wave ((C)) of II to complete the structure before resuming to the upside,

Elliott Wave Forecast

www.elliottwave-forecast.com updates one-hour charts 4 times a day and 4-hour charts once a day for all our 78 instruments. We do a daily live session where we guide our clients on the right side of the market. In addition, we have a chat room where our moderators will help you with any questions you have about what is happening in the market.

14 day Trial costs $9.99 only. Cancel anytime at support@elliottwave-forecast.com