QQQ is working on an impulsive 5-wave move off the March 14 low. Right now, we have completed 3 waves up. I would like to see one more micro push higher to make the count look more complete. I am targeting the .382 - .500 fibonacci retracements for this pullback. Bearish divergences in MACD and RSI indicate that this uptrend is becoming exhausted and needs time to rest. This should be a very strong year for QQQ.
Comment:
Buy zone target achieved.