QQQ Elliott Wave Pattern Suggests Further Decline to 684
A short-term Elliott Wave analysis of the Nasdaq 100 ETF (QQQ) indicates a continuing correction from the June 3, 2026 all-time high, with the next target zone set at 684 based on Fibonacci extensions.
The short-term Elliott Wave outlook for the Nasdaq 100 ETF (QQQ) points to a double correction pattern that is extending the decline from the June 3, 2026 all-time high. Analysts note that the instrument is currently correcting the broader cycle that began from the March 30, 2026 low.
The extreme target zone for the current leg is defined by the 100%–161.8% Fibonacci extension levels, with the price target converging around 684. The setup suggests that the downward move has not yet exhausted its potential, and further weakness could follow in the near term.
Source: FXStreet Forex News