taking a peak at the monthly count on qqq,
which btw has the cleanest count in all of the markets.
---
it looks like wave 3 has been put in through a 2.618 extension;
which would imply that a major wave 4 is at play.
Wave 4 generally retraces 23~38% of wave 3,
so that would give qqq at a conservative downside target of $211.
worst case scenario at $140 (unlikely).
Wave 2 took 400 days to pan out,
so if this wave 4 took 1:1 to play out in time ratio,
we'd be looking for a bottom around December of 2022.
---
Wave 5 target sits at $789, and it would take many years to get there.
💰
which btw has the cleanest count in all of the markets.
---
it looks like wave 3 has been put in through a 2.618 extension;
which would imply that a major wave 4 is at play.
Wave 4 generally retraces 23~38% of wave 3,
so that would give qqq at a conservative downside target of $211.
worst case scenario at $140 (unlikely).
Wave 2 took 400 days to pan out,
so if this wave 4 took 1:1 to play out in time ratio,
we'd be looking for a bottom around December of 2022.
---
Wave 5 target sits at $789, and it would take many years to get there.
💰