Numbers 1 to 5 label the successive legs of the selected wave pattern. The last point can still move.
NASDAQ · Market · Weekly analysis
HOOXWave & cycle analysis
DEFIANCE DAILY TARGET 2X LONG HOOD ETF
Current reading
The wave count points to a decline
The selected pattern describes a move downward. Compare it with trend, momentum and the price levels below before drawing a conclusion.
37/100 Setup score
71/100 Data quality
Watching Setup status
A setup score is a measure of fit, not a probability or price forecast.
How to use this report
Start with price. Read the selected pattern and the weekly closing levels beside the chart. “Confirm” means a move supports that interpretation; it does not guarantee a return.
Compare the evidence. A wave count can disagree with the trend, momentum or sector. The report points out those differences before looking at timing.
Check the limits. Timing windows are estimates, the last swing can move, and historical outcomes vary. Open the rules and data notes for more detail.
01 · Price & key levels
The pattern and the prices to watch
5 of 7 available readings lean against the downward wave interpretation; 1 support it. The pattern and current market behaviour do not yet agree.
The leading count changed 3 times across the last 9 checks. Keep the alternative interpretations in view.
Weekly price and wave pattern
Move across the chart to inspect a week. Turn on explanations for a guide to the marked points.
Weekly close30-week trendFair ValueConfirmationCount failureSelected pattern
The shaded area marks the selected pattern. Filled dots mark confirmed turns; the outlined dot is still forming. Prices use completed weeks; changing the chart range does not recalculate the count.
Reading the chart
Numbers 1 to 5 label the successive legs of the selected wave pattern. The last point can still move. A confirmed turn means price reversed far enough to establish that swing point. It does not confirm what price will do next.
The green line is the trend reference. Fair Value provides price context. Dashed confirmation and failure levels describe the selected count; they are not price targets.
Weekly chart values
| Week ending | Close | 30-week trend | Fair Value |
|---|---|---|---|
| 2025-03-21 | 16.06 | Unavailable | 16.06 |
| 2025-03-28 | 14.05 | Unavailable | 15.05 |
| 2025-04-04 | 9.20 | Unavailable | 13.10 |
| 2025-04-11 | 14.16 | Unavailable | 13.37 |
| 2025-04-18 | 12.47 | Unavailable | 13.19 |
| 2025-04-25 | 17.62 | Unavailable | 13.93 |
| 2025-05-02 | 16.83 | Unavailable | 14.34 |
| 2025-05-09 | 21.15 | Unavailable | 15.19 |
| 2025-05-16 | 26.55 | Unavailable | 16.45 |
| 2025-05-23 | 27.60 | Unavailable | 17.57 |
| 2025-05-30 | 30.13 | Unavailable | 18.71 |
| 2025-06-06 | 38.46 | Unavailable | 20.36 |
| 2025-06-13 | 35.76 | Unavailable | 21.54 |
| 2025-06-20 | 41.47 | Unavailable | 22.96 |
| 2025-06-27 | 46.07 | Unavailable | 24.50 |
| 2025-07-04 | 58.27 | Unavailable | 26.61 |
| 2025-07-11 | 62.91 | Unavailable | 28.75 |
| 2025-07-18 | 77.85 | Unavailable | 31.48 |
| 2025-07-25 | 70.24 | Unavailable | 33.52 |
| 2025-08-01 | 63.43 | Unavailable | 35.01 |
| 2025-08-08 | 82.38 | Unavailable | 37.27 |
| 2025-08-15 | 81.17 | Unavailable | 39.26 |
| 2025-08-22 | 73.83 | Unavailable | 40.77 |
| 2025-08-29 | 66.13 | Unavailable | 41.82 |
| 2025-09-05 | 62.46 | Unavailable | 42.65 |
| 2025-09-12 | 78.91 | Unavailable | 44.04 |
| 2025-09-19 | 92.17 | Unavailable | 45.83 |
| 2025-09-26 | 87.36 | Unavailable | 47.31 |
| 2025-10-03 | 127.31 | Unavailable | 50.07 |
| 2025-10-10 | 109.79 | 52.06 | 52.06 |
| 2025-10-17 | 94.91 | 54.69 | 53.44 |
| 2025-10-24 | 108.29 | 57.83 | 55.16 |
| 2025-10-31 | 118.54 | 61.47 | 57.08 |
| 2025-11-07 | 90.44 | 64.02 | 58.06 |
| 2025-11-14 | 78.77 | 66.23 | 58.65 |
| 2025-11-21 | 59.21 | 67.61 | 58.66 |
| 2025-11-28 | 83.29 | 69.83 | 59.33 |
| 2025-12-05 | 87.00 | 72.02 | 60.06 |
| 2025-12-12 | 70.20 | 73.48 | 60.32 |
| 2025-12-19 | 71.92 | 74.96 | 60.61 |
| 2025-12-26 | 67.92 | 76.22 | 60.79 |
| 2026-01-02 | 63.95 | 77.06 | 60.86 |
| 2026-01-09 | 63.69 | 78.00 | 60.93 |
| 2026-01-16 | 55.77 | 78.47 | 60.81 |
| 2026-01-23 | 53.79 | 78.73 | 60.65 |
| 2026-01-30 | 46.23 | 78.33 | 60.34 |
| 2026-02-06 | 30.57 | 77.25 | 59.71 |
| 2026-02-13 | 24.90 | 75.49 | 58.98 |
| 2026-02-20 | 25.02 | 73.98 | 58.29 |
| 2026-02-27 | 24.41 | 72.68 | 57.61 |
| 2026-03-06 | 24.93 | 70.76 | 56.97 |
| 2026-03-13 | 22.35 | 68.80 | 56.31 |
| 2026-03-20 | 20.72 | 67.03 | 55.63 |
| 2026-03-27 | 17.71 | 65.42 | 54.93 |
| 2026-04-03 | 19.10 | 63.97 | 54.28 |
| 2026-04-10 | 19.25 | 61.98 | 53.65 |
| 2026-04-17 | 32.30 | 59.99 | 53.28 |
| 2026-04-24 | 27.82 | 58.00 | 52.84 |
| 2026-05-01 | 20.50 | 54.44 | 52.29 |
| 2026-05-08 | 22.14 | 51.52 | 51.79 |
| 2026-05-15 | 22.07 | 49.09 | 51.30 |
| 2026-05-22 | 19.88 | 46.15 | 50.80 |
| 2026-05-29 | 31.90 | 43.26 | 50.50 |
| 2026-06-05 | 23.92 | 41.04 | 50.08 |
| 2026-06-12 | 30.20 | 39.42 | 49.78 |
| 2026-06-19 | 40.15 | 38.79 | 49.63 |
| 2026-06-26 | 33.08 | 37.11 | 49.38 |
| 2026-07-03 | 42.62 | 35.63 | 49.28 |
| 2026-07-10 | 41.62 | 34.68 | 49.17 |
| 2026-07-17 | 32.67 | 33.37 | 48.94 |
| 2026-07-24 | 29.07 | 32.08 | 48.66 |
| 2026-07-31 | 24.01 | 30.75 | 48.31 |
| 2026-08-07 | 27.60 | 29.54 | 48.03 |
| 2026-08-14 | 28.82 | 28.65 | 47.77 |
| 2026-08-21 | 35.98 | 28.05 | 47.61 |
| 2026-08-28 | 33.04 | 27.61 | 47.42 |
| 2026-09-04 | 44.06 | 28.06 | 47.38 |
| 2026-09-11 | 37.25 | 28.47 | 47.25 |
| 2026-09-18 | 41.60 | 29.03 | 47.18 |
| 2026-09-25 | 40.91 | 29.58 | 47.10 |
4-week return
23.8%
13-week return
23.7%
26-week return
131.0%
52-week return
-53.2%
From 52-week high
-69.9%
26-week volatility
175.1%
Scenario playbook
What would strengthen—or change—the view?
Start with the price condition. Then check the supporting evidence and the alternative count.
Wait for price confirmation
Below USD 24.01The count needs a weekly close beyond this reference, with supporting price and cycle evidence.
Timing arrives; price does not turn
A projected window can pass without a reversal. Keep the count provisional if price has not confirmed; review the alternative count and the longer cycle.
Know what changes the view
Above USD 42.62A weekly close beyond this boundary conflicts with the selected count. Review a fresh count instead of extending the old explanation.
Does the interpretation survive a different swing size?
2 of 3 available degrees share the leading direction. These are different views of the same price series.
72/100 pattern fit · agrees with leading direction
63/100 pattern fit · agrees with leading direction
58/100 pattern fit
02 · Wave count
How the wave count fits
The chart uses a 16.0% closing-price reversal threshold. Filled markers are confirmed pivots; the outlined final marker is still forming.
Scenario comparison
Compare the possible patterns
Leading wave count
24% evidence weight
Possible bearish Wave 2 crest
The count below meets the required wave rules. The details show which swings and proportions support it. A valid pattern is still an interpretation of past price moves.
Confirm below 24.01
Fails above 42.62
Count stability Moderate · 52/100
Wave rules and proportions
PassWave 2 protects the Wave 1 originOrigin 42.62; Wave 2 40.91.
GuidelineWave 2 retracement is proportionateRetraced 91% of Wave 1.
Strategic degree uses a 24.0% weekly closing-price reversal threshold.
Primary degree uses a 16.0% weekly closing-price reversal threshold.
Tactical degree uses a 11.2% weekly closing-price reversal threshold.
8 weeks · Forming
Pivot from 2026-07-31
Pivot from 2026-07-03
Price is 38.3% from trend
Price is -13.1% from Fair Value
16.44 low · 135.97 high
03 · Supporting evidence
71% directional agreement
Where the evidence agrees or disagrees
5 of 7 available readings lean against the downward wave interpretation; 1 support it. The pattern and current market behaviour do not yet agree.
The other readings point the other way. 1 readings support the selected direction; 5 lean against it.
Trend
38.3% above trend
Price is holding above its 30-week trend.
Cycle pressure
Rising
The medium-term pressure curve is turning higher.
Cycle alignment
Mixed
Cycle lengths are not moving in one clear direction.
Relative strength
-25.4
Underperforming its benchmark
Market activity
+52.6
Participation is supportive
Market dynamics
+0.5
Price and volume behaviour is supportive
30-week momentum
+67.6
Medium-term momentum is positive
5 constructive, 1 weak and 1 neutral measures.
Agreement describes direction among the readings. It does not necessarily support the selected wave count.Market activity
Whether participation is supporting the move.
Participation is supportive. This challenges the downward wave view.
Relative strength
Performance against the market benchmark.
Underperforming its benchmark. This supports the downward wave view.
30-week momentum
The pace of the medium-term price move.
Medium-term momentum is positive. This challenges the downward wave view.
Market dynamics
A separate scale prevents this lower-range measure being hidden by relative strength.
Price and volume behaviour is supportive. This challenges the downward wave view.
04 · Cycle timing
What cycle timing adds
Cycle estimates help describe timing. They do not set a date for the next price turn.
Possible turning intervals
The timing map.
Estimated from 25 Sep 2026. Bands show model uncertainty, not confidence intervals or guaranteed turning dates.
Trough window Crest window
Now+9 weeks
10w bandEstimated 8w · Cresting
35/100Repeat fit · 10.0 cycles of history
Trough: 25 Sep–16 Oct 2026 (+0–3w)Crest: 30 Oct–27 Nov 2026 (+5–9w)
20w bandEstimated 15w · Cresting
No measurable positive repeat
0/100Repeat fit · 5.3 cycles of history
40w bandEstimated 40w · Rising
No measurable positive repeat
0/100Repeat fit · 2.0 cycles of history
80w bandEstimated 80w · Neutral
Fewer than two estimated cycles
0/100Repeat fit · 1.0 cycles of history
The best nearby repeat is selected from the same sample being described. Its fit is not an out-of-sample forecast score. When fewer than two estimated cycles are available the recent weekly history has gaps, or no positive repeat is measured, timing windows are withheld.
Cycle pressure is rising. That supports the recent upswing, but it does not establish how long it will last.
Cycle repeat scores range from 0 to 35/100. Low scores mean the past rhythm is irregular, so the projected weeks deserve less weight.
Current medium-term pressure direction
38/100 rising alignment · 62/100 falling alignment
Timing estimate, not a dated forecast
Timing estimate, not a dated forecast
Cycle pressure
Above zero is positive pressure; direction matters more than the absolute number.
Shorter and longer cycles
The thick line is the blended reading; thinner lines show 20, 40 and 80-week components.
An observed cycle is the repeat found in past prices. The repeat score describes how clearly it appears. FLD is a shifted price reference used to check a turn. Low timing scores can coexist with a positive price-cross check.
Typical / observed cycle10w / 8w
Current phaseCresting
Repeat score35/100
Price-cross check (FLD)Crossed Up
Since last trough7w
Possible next low0–3w
Typical / observed cycle20w / 15w
Current phaseCresting
Repeat score0/100
Price-cross check (FLD)Crossed Up
Since last trough7w
Possible next low-
Typical / observed cycle40w / 40w
Current phaseRising
Repeat score0/100
Price-cross check (FLD)Crossed Up
Since last trough6w
Possible next low-
Typical / observed cycle80w / 80w
Current phaseNeutral
Repeat score0/100
Price-cross check (FLD)Crossed Down
Since last trough-
Possible next low-
05 · Risk
Risk behind the price move
Wave structure is easier to judge when drawdown, volatility and participation are visible beside it.
Risk in context
How much room price has to move
Price is 67.9% below the highest weekly close in the stored history. It is 69.9% below the 52-week high. The two figures use different reference points.
Largest contributors to the risk score
- Trend extension
Price is 38.3% above the 30-week trend; large positive gaps increase snap-back vulnerability.
- Multi-cycle risk
Hurst risk alignment is 62/100.
- Count instability
The primary interpretation has moderate recent stability.
Downside risk check
34/100Watch
This score combines the risk checks shown here. A higher score means more warning signs, not a measured probability of a fall.
52-week low16.44
52-week high135.97
Based on the latest 26 weekly returns
Average high-to-low range over 13 weeks
From the highest close in the stored record
Of its trailing 20-week average
Drawdown history
Distance below the highest prior weekly close.
Realised volatility
Annualised variability of the latest 26 weekly returns.
Relative volume
Weekly volume as a percentage of its 20-week average.
06 · Market context
Sector trends and upcoming events
Compare the pattern with other stocks in the sector, then check whether an event could change the price picture.
Upward wave counts are not a majority among the analysed peers. That alone does not establish a downward sector trend.
47% constructive
7 of 15 analysed peers have a leading upward wave pattern.
40% have improving cycles Breadth shows whether peers share the structure. Cohort outcomes use non-overlapping, point-in-time trend and momentum states from the same sector and report benchmark excess return when matching benchmark bars exist; they are context, not a backtest of the Elliott count.An event could cross a key price level
Options: Bearish · 31/100 conviction · ±21.1% expected move
The options-implied move is large enough to cross the Elliott invalidation level in one event-sized move.
Stored options pressure is bearish with 31/100 conviction.
Compare the expected move with the price levels above. An event can take price straight through a chart level.| Peer-state horizon | Non-overlapping samples | Positive | Median | Median excess vs QQQ | Middle 80% of returns |
|---|---|---|---|---|---|
| 4 weeks | 406 | 65% | 0.7% | -0.6% | -5.8% to 6.4% |
| 13 weeks | 139 | 70% | 2.0% | -1.4% | -8.9% to 16.6% |
| 26 weeks | 74 | 68% | 3.2% | -5.2% | -11.1% to 20.3% |
07 · History
0 similar weekly states
What happened after similar readings
There are not enough completed, comparable outcomes to draw a useful historical comparison.
Not enough comparable history yet
Historical context appears only when at least eight completed outcomes are available for one of the measured horizons.
At least 90 weekly observations are required.
Data quality, rules and limitations
Evidence quality71/100
This measures usable history, indicator coverage and confirmed swing points. It does not measure the chance of the scenario succeeding.
- Weekly history
- 31/100
- Indicator coverage
- 90/100
- Confirmed structure
- 100/100
Rules and data notes
- Swing points use weekly closes and a 16.0% adaptive reversal threshold.
- The final swing is provisional until the reversal threshold is met.
- Candidate counts must pass the Wave 2 origin, Wave 3 progression/length and Wave 4 overlap rules when those waves are present.
- Fibonacci proportions and alternation rank valid candidates but never rescue a hard-rule failure.
- Primary and alternate evidence weights compare admissible counts; they are not probabilities.
- These close-based impulse and A/B/C candidates do not exhaustively classify diagonals, triangles or complex corrections. Counts and historical cycle curves can be revised when adaptive thresholds or estimated periods change.
- Nominal Hurst periods adapt to observed weekly rhythm. Future windows include measured timing uncertainty and require FLD or price confirmation.
Audit trail
Recent swing points
Dates and prices for the recent swings. The final point can still move. This is the current reconstruction; it is not a saved history of earlier published labels.
| Date | Status | Type | Price | Move | Duration |
|---|---|---|---|---|---|
| 2025-11-21 | Confirmed | Low | 59.21 | -50.0% | 3 weeks |
| 2025-12-05 | Confirmed | High | 87.00 | 46.9% | 2 weeks |
| 2026-03-27 | Confirmed | Low | 17.71 | -79.6% | 16 weeks |
| 2026-04-17 | Confirmed | High | 32.30 | 82.4% | 3 weeks |
| 2026-05-22 | Confirmed | Low | 19.88 | -38.5% | 5 weeks |
| 2026-05-29 | Confirmed | High | 31.90 | 60.5% | 1 weeks |
| 2026-06-05 | Confirmed | Low | 23.92 | -25.0% | 1 weeks |
| 2026-06-19 | Confirmed | High | 40.15 | 67.8% | 2 weeks |
| 2026-06-26 | Confirmed | Low | 33.08 | -17.6% | 1 weeks |
| 2026-07-03 | Confirmed | High | 42.62 | 28.8% | 1 weeks |
| 2026-07-31 | Confirmed | Low | 24.01 | -43.7% | 4 weeks |
| 2026-09-25 | Forming | High | 40.91 | 70.4% | 8 weeks |
Follow the evidence
Test the view in related research.
Compare the same market from another angle. Shared price inputs can agree without providing independent confirmation.