QBTZ

Defiance Daily Target 2x Short QBTS ETF

NASDAQ · ETF

30.02

+0.32 (+1.08%)

Close, Oct 20, 2026

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Structural summary

What is the structure, what changed, and what would invalidate it

Viridia Intelligence

Context across dimensions, not a rating

StructureLower highs, lower lowsIntermediate-degree swings on the daily chart.

WaveUnresolvedZigzag complete, next move up (Pattern Confidence 60); the weekly count points the other way.

FibonacciZone aboveNearest confluence 35.41–36.75 (3 relationships), +20.2% from the close.

MomentumWeak3 months −3.0% (behind SPY by 5.9 points); 6 months −65.3%.

RegimeMixed+59.7% vs the 50-day average, −63.6% vs the 200-day.

RiskNormal20-day volatility 126% vs 212% over the year; 1-year drawdown −96.6%; beta -8.50.

QBTZ setup historyNot replayed yet; the track record fills in most-traded securities first.

Current structure

Price, swings and the preferred count on the chart

QBTZ · 1DLoading bars…

SourceMassive, end of dayUpdated—MethodDaily bars, split-adjusted

Candidate interpretations

Every count shown passes every hard rule

Candidate interpretations

Ranked by Pattern Confidence

Counts ending at the latest intermediate swing low, 12.99 on Sep 23, 2026. 100 labelings tested, 59 broke a hard rule, 12+ remain.

Hard-rule evidence: why 59 labelings were eliminated

30Wave 2 always retraces less than 100% of wave 1
9Price after the last labeled point has not crossed a rule-based invalidation level
7Contracting triangle: C ends short of A's end, D short of B's end, and E short of C's end
6Wave B retraces at least 90% of wave A
4Wave B ends short of the start of wave A (a zigzag is a sharp correction)
3Expanding triangle: C ends beyond A's end, D beyond B's end, and E beyond C's end

Method Every chain of 3–6 alternating pivots ending at the latest confirmed pivot is tested as each pattern; only counts with zero hard-rule failures are kept, then ranked by Pattern Confidence. Rules: rulebook.Engine pivots-1.0.0+rules-1.1.0+candidates-1.0.0+fib-1.0.1+rank-1.2.0+setup-1.0.1 (computed on load), bars to Oct 20, 2026

Fibonacci map

Confluence zones above and below the closeClose 30.02

30.02close

Bar length is the zone's strength (a weighted count of relationships, not a probability). Select a zone to see what forms it.

35.41 – 36.75+20.2% from the close

3 relationships · strength 7.8 · Primary degree

36.75Prior 4thCorrection ends near the end of wave 4 · Primary · Essentials
36.12ProjectionWave C = 100% of wave A · Primary · Essentials
35.41ChannelWave 4 channel (line 1–3 through 2, log scale) · Primary · EWP · secondary ratio

Method Targets come from the Fibonacci relationships the sources describe for the wave in progress, Elliott trend channels, the prior fourth wave of lesser degree, and 38.2–78.6% retracements of the latest swing. A zone is where two or more independent relationships fall within max(¼ ATR, 0.4%) of each other; strength counts them, weighting primary ratios and higher degrees. It is not a probability.

Evidence

The setup the preferred count implies, and how that kind of setup has done

Setup

Intermediate degree · from the preferred count

The intermediate-degree scenario was held back

Its levels didn't pass Viridia's checks: invalidation over 25% away; target over 100% or 25 ATR away; reward/risk outside 1–10. It's listed for review instead of shown.

Setups at other degrees:

NoteResearch scenario generated from Viridia's structural model. Not a recommendation.MethodA setup restates the preferred count as a trade: the entry (the close, or the level where the correction in progress most often ends), the stop where the count is wrong (a rule level, or the end of a finished pattern), and the count's own Fibonacci target. Reward:risk is measured from the middle of the entry range. A setup needs reward:risk of at least 1 : 1. It is research output from the wave count, not a recommendation or a forecast.

Engine details

Analysis engine: pivots-1.0.0+rules-1.1.0+candidates-1.0.0+fib-1.0.1+rank-1.2.0+setup-1.0.1
Bars analysed to: Oct 20, 2026
Price history: Automatic, updated nightly
Daily bars: 261 since Oct 7, 2025
Avg volume, 50 days: 404.5K
Dollar volume, 20 days: $3.3M
SEC CIK: Not matched
Provider symbols: nasdaqtrader: QBTZ · massive: QBTZ
Listing changes: None since Sep 24, 2026

SourcePrices: Massive (end of day, split-adjusted). Listings: Nasdaq Trader, SECUpdatedOct 22, 2026, 8:00 AM EDTMethodSecurity master, daily snapshot diff

Structure at a glance

Daily chart, as of Oct 20, 2026

Since the count's last pivot (12.99, Sep 23, 2026) price has moved +131.1%, the way the count expects.12 of 12 rule-valid counts expect the current move to be up.Weekly count: zigzag wave C ↓, opposite direction

Close call.The top two counts are within 0 points. Treat the structure as unresolved until one is invalidated.

Preferred count

Zigzag down · complete, next move up ↑

A three-wave zigzag correction down looks complete, so the larger trend would normally resume up.

A-B-C from 484.20, Nov 21, 2025

Pattern Confidence60Medium

4 of 6 checks met

Key levels, preferred count

Reassess−56.7% from close

12.99

The pattern ended here. A move below it means its last wave is still going, so the pattern isn't complete.

Target, next move+913.3% from close

304.20

Move after the correction retraces 61.8% of A–C

Nearest confluence zone+20.2% from close

35.41–36.75

3 Fibonacci relationships meet here.

Alternate count

Ending diagonal down · wave 4 ↑

Price is in wave 4 of a five-wave decline (ending diagonal).

1-2-3 from 484.20, Nov 21, 2025

Pattern Confidence60Medium

1 of 1 checks met

Why this count is preferred · 4 met, 2 not met

Met

Wave B retraces 38.2% to 85.4% of wave A
Wave B retraces under 90% of wave A (deeper B waves fit a flat better)
Wave C travels beyond the end of wave A (a failure is a truncation)
The count starts at the price extreme of the prior swing (a new trend begins where the old one ended)

Not met

Wave C equals wave A, or is 61.8%, 123.6% or 161.8% of it
Alternate waves are related by a Fibonacci ratio within 5% (wave 5 to wave 1, C to A, or alternate triangle legs at 61.8%, or 161.8% in expanding triangles), the more reliable kind of relationship

MethodPattern Confidence = (guidelines met + 2) ÷ (guidelines measured + 4), from the rulebook's guidelines, Fibonacci tendencies and wave-personality checks (wave 3 speed and volume, wave 5 volume, alternation in time, a start at the prior extreme), alternate waves in Fibonacci ratio, and the rarity of running flats. The alternate is the best-ranked count that tells a different story. It ranks the rule-valid counts against each other; it is not a probability of any outcome.

Structural summary

Viridia Intelligence

Current structure

Candidate interpretations

Candidate interpretations

Fibonacci map

Fibonacci map

Evidence

Setup

Engine details

Structure at a glance

What changed