The Nasdaq-100 ETF (QQQ) seems to have ended its correction in opposition to the April cycle. The present resurgence stems from the blue field, the place we beneficial members to go lengthy. On this weblog submit, we are going to analyze the constructions, the blue field, and what to anticipate subsequent.
Indices started to sharply rebound final week after correcting the April cycle for over two months. We consider the April bullish cycle for many indices resulted in January/February 2026. As for QQQ, the pullback in opposition to the April cycle started in late October 2025. We confirmed the height to our members and beneficial promoting. We anticipated the correction in opposition to the April low to happen in a 3, 7, or 11-wave corrective sequence. We regarded to purchase on the excessive of any of those correction levels, so long as it wasn’t too shallow – under a 23.6% retracement. The size of the correction confirmed that we weren’t coping with a 4th wave of the April cycle, however relatively an entire correction. Due to this fact, we thought of a 38.2% retracement and deeper as an extra guideline.
QQQ Elliott Wave Bullish Setup – twenty second March, 2026
On March twenty second, we shared the QQQ Day by day chart with Elliottwave-Forecast members. The chart revealed the pullback as a 7-swing construction, as a 3-swing construction was thought of too shallow. The 7-swing pullback prolonged to the blue field, the place we beneficial members to go lengthy on the inventory ETF. The blue field covers the 580.13-345.14 space, and we anticipated the low to be inside this zone. Due to this fact, we didn’t have to pinpoint the precise low. Consequently, members went lengthy at 580 with a cease at 545. We offered members with subsequent each day charts displaying this blue field for a number of days, giving them ample time to resolve and set their pending orders.
QQQ Elliott Wave Bullish Setup (Replace) – twelfth April, 2026
On April 12, 2026, we alerted members with the each day replace chart above. The chart exhibits the worth triggered the blue field and reacted sharply upwards. On the time of writing, the ETF was buying and selling at $620. Given the energy of this rally, there’s a 70% chance of a brand new excessive. Thereafter, consumers will probably search for entry factors from the blue field once more. Nevertheless, till that top is breached, we can not fully rule out the potential for a 15-swing pullback extending deeper (30% probability). As for us and our members, we now have already booked earnings on half of our place and left the rest with an adjusted cease to make sure a risk-free commerce.
Supply: https://elliottwave-forecast.com/stock-market/qqq-ended-correction-from-blue-box/