Automatic wave scan: as of 21 Oct 2026, the automatic daily count for QQQ is Wave 1 down with a bearish bias. The count stays valid while price holds 762.86.
Current QQQ wave count
Automatic wave scan Updated daily from the latest daily close (21 Oct 2026). Computer generated from swing highs and lows, not reviewed by an analyst.
Automatic scan: price is in wave 1, the first leg of a five wave decline that began at 762.86 on 6 Oct 2026. Next levels to watch are 692.10 and 672.85. The count fails on a daily close above 762.86.
Key levels
| Type | Levels |
|---|---|
| Resistance | 762.86 · 734.58 |
| Support | 700.00 · 661.14 |
| Invalidation | 762.86 |
What is QQQ?
QQQ launched in March 1999 and is managed by Invesco. It holds the stocks of the Nasdaq 100 index, with heavy weights in technology and large growth companies.
Because a few giant firms make up a large part of the fund, their earnings and news can move QQQ strongly.
What moves the QQQ price?
- Big tech earnings: The largest holdings drive returns.
- Interest rates: Growth stocks react strongly to bond yields.
- AI theme: Chip and cloud firms have heavy weights.
- Fund flows: Large flows show risk appetite.
- Options activity: QQQ options are very actively traded.
How QQQ moves in Elliott Wave terms
QQQ's waves match the Nasdaq 100. Its 2000 to 2002 decline of more than 80 percent and the long rally since 2009 are key studies for wave traders.
QQQ moves more than SPY in both directions, so wave targets are larger in percentage terms.
Tips for counting QQQ waves
Compare with SPY. When QQQ leads, risk appetite is usually strong.
QQQ key facts
QQQ Elliott Wave FAQ
What does QQQ track?
The Nasdaq 100, an index of the 100 largest non-financial companies listed on Nasdaq.
Is QQQ riskier than SPY?
It is usually more volatile because it is concentrated in technology and growth stocks.
Who manages QQQ?
Invesco manages the fund.
Sources and further reading
- Invesco QQQ (Invesco)
- Invesco QQQ (Wikipedia)
- Exchange-traded funds (ETFs) investor bulletin (U.S. SEC Investor.gov)
Educational content only. Nothing on this page is financial advice or a recommendation to buy or sell. Trading involves risk and you can lose money. Elliott Wave counts are probabilities, not certainties. Read our full disclaimer and affiliate disclosure.
