January 28th, 2022: QQQ Chart Update
Posted by pugsma on January 28, 2022
1:15 pm EST: The QQQ peaked at 408.71 for P1-C3 in late November 2021.
The primary (red) count is that P2 will play out as a 3-3-3, major [W]-[X]-[Y] double zig-zag to a target near the 50% Fib retrace of P1-C3 at 286.82 (a -29.8% loss from the P1-C3 peak). The first major [W]-P2 look to have completed this week at 334.15. Now underway is the major [X] wave move up to the 50%/62% Fib targets are 371.43 to 380.38. Within major [X], minor W completed at 356.88 and minor X at 338.08. Now minor Y is likely headed for Y=1.62W target at 374.90, which is in between the 50%/62% Fibs of 371.43/380.38. Note: This primary (red) count is confirmed on a break below 334.15.
The alternate (blue) wave count is the P2-C3 bottomed at 334.15, just above the 38% Fib retrace of P1-C3 at 316.07 and a -18.2% loss from the P1-C3 peak. Now the P3-C3 wave up is in the very early stages. I tentatively have the minor 1 of major [1]-P3 target near 389.16. Note: This alternate (blue) wave count is confirmed on a break above 408.71.
QQQ 60-min chart:
QQQ daily chart:
QQQ weekly chart:
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