$QQQ Minor 4 Remains My Preferred Count

$QQQ has entered the expected range for a wave four correction of this degree. It has also formed a diverging bullish wedge. Calling this structure complete prematurely can be painful (like last time) but a bull wedge is a bull wedge until it isn’t one.

Generating targets for 5th waves is something I try to avoid, but I would expect a multi-week rally that will produce 5 waves when this correction is over. Breaking out of the wedge will be a good sign that it is ready to do so. Perhaps we can expect a run back to that channel midline.


Leave a Reply

Your email address will not be published. Required fields are marked *