The Nasdaq 100 ETF (QQQ) is currently experiencing a short-term upward trend, according to the Elliott Wave analysis. This cycle began after reaching a low in April 2025. To confirm this trend continues, the price must exceed the previous high of 638.41, achieved on October 30.

Wave Sequence Details

The wave sequence that has been moving upward since the low on November 21 is almost complete. It has gone through five typical upward waves. Important milestones include wave ((i)) hitting 586.25 and wave ((iii)) reaching 619.51. A dip in wave ((iv)) ended at 612.13, and we expect wave ((v)) to wrap up shortly. After this, a correction in wave 2 is likely before we see more increases. As long as the price stays above the pivot of 580.27, any dips should find support within a 3, 7, or 11 wave pattern. This analysis points to positive expectations for the ETF, supported by the cycle’s continuation. The insights on the Nasdaq 100 ETF are based on the 30-minute Elliott Wave chart as of December 5, 2025.

Related Market Trends

This report also covers market trends affecting gold prices worldwide, as well as expectations around different currency pairs. It discusses upcoming changes in US monetary policy and significant movements in the cryptocurrency market. Given the current market setup, the strong rise in the Nasdaq 100 ETF (QQQ) since late November appears to be reaching its peak. We should expect a short-term pullback in the upcoming weeks. This outlook is backed by a rapid 6.8% increase since the low on November 21, a pace that’s hard to maintain without a break. This predicted dip doesn’t mean it’s time to be negative; instead, it offers a chance to prepare for the next upswing. The main reason for this positive outlook is the widespread belief that the Federal Reserve will cut interest rates later this month. This view is supported by a weakening US Dollar Index, which is currently near a multi-week low of 99.00. The upcoming Personal Consumption Expenditures (PCE) inflation data will be crucial and could spark the expected market correction. History shows that the beginning of a Fed easing cycle has been very beneficial for stocks, similar to the market rally we saw after the Fed’s shift to rate cuts in 2019. Recent economic data, including the November jobs report indicating a slowdown in payroll growth to 160,000, strengthens the case for Fed action. Thus, any market weakness is likely to attract strong buying interest. For derivative traders, this suggests preparing to seize the opportunity during the expected dip rather than chasing current highs. Consider buying call options or selling put spreads on QQQ if it pulls back toward the low 600s. The key is to view any decline as temporary, as long as prices stay above the important November low of 580.27. Create your live VT Markets account and start trading now.

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