Nasdaq 100 ETF (QQQ) Elliott Wave signals end of correction, path higher opens [Video]

The Nasdaq‑100 ETF (QQQ) established its most recent major high on October 29, 2025, at $637.01. This peak has been identified as wave ((1)), marking the completion of the cycle that began from the April 7, 2025 low. Following this advance, the ETF entered a corrective phase, unfolding wave ((2)) as a structured pullback. The internal subdivision of this correction developed into a double three Elliott Wave pattern, a common formation that often signals consolidation before the next directional move.

From the October 29 high, wave (W) concluded at $580.74, while wave (X) retraced higher to $636.60. The final leg, wave (Y), ended at $555.55, completing wave ((2)) at a higher degree. This structure is clearly visible on the one‑hour chart and provides context for the subsequent bullish turn.

The ETF has since resumed higher in wave ((3)). However, a decisive break above $637.01 remains necessary to fully eliminate the risk of a double correction. From the wave ((2)) low, wave ((i)) advanced to $564.45, followed by a modest pullback in wave ((ii)) to $557.86. Wave ((iii)) then pushed higher to $587.74, with wave ((iv)) easing to $582.33. One more upward leg is anticipated to complete wave ((v)), which should finalize wave 1 of the larger degree.

Afterward, a corrective wave 2 is expected to retrace the cycle from the March 31 low before the ETF resumes its broader advance. In the near term, as long as the pivot at $555.47 remains intact, pullbacks should continue to find support in either three or seven swings, setting the stage for further upside momentum.