Technical analysis signals QQQ may extend declines to 684 amid a corrective wave from its June 3 peak.
The Nasdaq 100 ETF (QQQ) is undergoing a double correction pattern, according to Elliott Wave analysis, with a target zone near 684. The decline follows a cycle from the March 30, 2026 low and extends from the June 3, 2026 all-time high.
The correction aligns with Fibonacci retracement levels of 100% to 161.8%, suggesting potential downside momentum. Prior technical setups indicated a pullback, but the current wave structure points to deeper losses.
No immediate market reaction was specified, though traders may adjust positions based on the projected support level.