QQQ short term cycle nearing end; pullback likely to attract buyers [Video]

The rapid-term Elliott Wave outlook for the Nasdaq 100 ETF (QQQ) means that the cycle from the April 2025 low stays active. Wave (4) of the continuing impulse concluded at 580.27, and the ETF has since resumed its upward trajectory. To substantiate continuation, price need to shatter above the prior wave (3) height recorded on 30 October at 638.41. The rally from the 21 November wave (4) low has matured and is predicted to total soon, reflecting the pure rhythm of the Elliott Wave sequence.

The come from wave (4) has unfolded as a five-wave impulse. Within this structure, wave ((i)) ended at 586.25, followed by a corrective pullback in wave ((ii)) that terminated at 580.36. From there, the ETF nested increased. Wave (i) of the next sequence ended at 596.98, while wave (ii) pulled abet to 589.44. Momentum carried wave (iii) to 606.76, sooner than wave (iv) corrected to 597.32. The final leg, wave (v), reached 619.51, winding up wave ((iii)) at a increased diploma. A subsequent pullback in wave ((iv)) ended at 612.13.

Having a look forward, wave ((v)) of 1 is predicted to enact soon. Afterward, a corrective wave 2 would possibly possibly presumably perchance hang to restful unfold, addressing the cycle from the 21 November low sooner than the ETF resumes increased. Within the terminate to term, as lengthy as the pivot at 580.27 stays intact, dips are anticipated to search out give a elevate to in a 3, 7, or 11 swing sequence, reinforcing possibilities for further upside.

Nasdaq 100 ETF (QQQ) 30-minute Elliott Wave chart from 12.5.2025

Nasdaq 100 ETF Elliott Wave [Video]