YMAX

YieldMax Universe Fund of Option Income ETFs

NYSE Arca · ETF

7.34

+0.08 (+1.10%)

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

StructureExpanding rangeIntermediate-degree swings on the daily chart.

WaveDefensiveFlat complete, next move down (Pattern Confidence 67); the weekly count agrees.

FibonacciZone belowNearest confluence 6.66–6.74 (4 relationships), −8.7% from the close.

MomentumWeak3 months −2.7% (behind SPY by 5.5 points); 6 months −13.4%.

RegimeDowntrend−3.3% vs the 50-day average, −10.6% vs the 200-day.

RiskNormal20-day volatility 24% vs 26% over the year; 1-year drawdown −42.7%; beta 1.62.

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

Current structure

Price, swings and the preferred count on the chart

YMAX · 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 high, 7.94 on Sep 22, 2026. 158 labelings tested, 114 broke a hard rule, 12+ remain.

Hard-rule evidence: why 114 labelings were eliminated

57Wave 2 always retraces less than 100% of wave 1
15Wave 4 always retraces less than 100% of wave 3
12Contracting triangle: C ends short of A's end, D short of B's end, and E short of C's end
7Expanding triangle: C ends beyond A's end, D beyond B's end, and E beyond C's end
7Wave B ends short of the start of wave A (a zigzag is a sharp correction)
5Price after the last labeled point has not crossed a rule-based invalidation level

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-1.0.0+candidates-1.0.0+fib-1.0.1+rank-1.1.0+setup-1.0.1, bars to Oct 20, 2026

Fibonacci map

Confluence zones above and below the closeClose 7.34

7.34close

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

6.66 – 6.74−8.7% from the close

4 relationships · strength 6.6 · Intermediate, Minor degrees

6.74ProjectionWave 5 = 100% of wave 1 · Intermediate · Essentials
6.69ChannelWave 5 channel (line 2–4 through 3) · Intermediate · Essentials
6.67ProjectionWave 3 = 261.8% of wave 1 · Minor · EWF · secondary ratio
6.66RetracementMove after the correction retraces 61.8% of A–C · Intermediate · Viridia

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

No scenario at intermediate degree right now

The target is closer than the stop (reward:risk 0.15 : 1): most of the count's expected move has already happened, so it isn't a setup. Viridia shows nothing rather than a guess.

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-1.0.0+candidates-1.0.0+fib-1.0.1+rank-1.1.0+setup-1.0.1
Bars analysed to: Oct 20, 2026
Price history: Automatic, updated nightly
Daily bars: 516 since Sep 30, 2024
Avg volume, 50 days: 1.05M
Dollar volume, 20 days: $7.8M
SEC CIK: Not matched
Provider symbols: nasdaqtrader: YMAX · massive: YMAX
Listing changes: None since Sep 24, 2026

SourcePrices: Massive (end of day, split-adjusted). Listings: Nasdaq Trader, SECUpdatedOct 21, 2026, 8:00 AM EDTMethodSecurity master, daily snapshot diff

MethodStructure: the intermediate-degree swing structure (higher highs and lows, lower highs and lows, expanding or contracting). Wave: the preferred daily wave count's expected direction (constructive up, defensive down), unresolved when the alternate is within 5 points. Fibonacci: the nearest confluence zone of Fibonacci relationships and the distance to it (inside, or within 3%, counts as at a zone). Regime: price against its 50- and 200-day averages. Momentum: 3-month return and its lead over SPY (strong when both are positive and the lead is over 5 points; weak when both are negative). Risk: 20-day volatility against the 1-year level (elevated above 1.25×), and the 1-year drawdown and beta to SPY.

Structure at a glance

Daily chart, as of Oct 20, 2026

Since the count's last pivot (7.94, Sep 22, 2026) price has moved −7.6%, the way the count expects.12 of 12 rule-valid counts expect the current move to be down.Weekly count: ending diagonal wave 3 ↓, same direction

Preferred count

Flat up · complete, next move down ↓

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

A-B-C from 7.25, Jul 29, 2026

Pattern Confidence67Medium

4 of 5 checks met

Key levels, preferred count

Reassess+8.2% from close

7.94

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

Target, next move

None

No unreached Fibonacci target.

Nearest confluence zone−8.7% from close

6.66–6.74

4 Fibonacci relationships meet here.

Alternate count

Zigzag down · wave C ↓

Price is in wave C of a three-wave zigzag correction down.

A-B from 8.83, Jun 1, 2026

Pattern Confidence57Low

2 of 3 checks met

Why this count is preferred · 4 met, 1 not met

Met

Wave C ends slightly beyond wave A (regular), substantially beyond (expanded), or short of it after an extended B (running)
Wave C measures 61.8% to 161.8% of wave A, depending on the flat type
The flat is a regular or expanded flat; running flats are a rare variation
The count starts at the price extreme of the prior swing (a new trend begins where the old one ended)

Not met

Alternate waves are related by a Fibonacci ratio within 5% (wave 5 to wave 1, C to A, or triangle legs at 61.8%), 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.

What changed

Structural events, most recent first

Oct 15, 2026New leading countNew leading count: Flat complete ↓ (confidence 67).
Oct 15, 2026Structure changedIntermediate structure changed from lower highs and lows to expanding.
Oct 15, 2026Count droppedImpulse complete ↑ is no longer among the leading counts; now Flat complete ↓.
Oct 15, 2026Daily/weekly alignmentDaily and weekly counts now both point down.
Oct 15, 2026Swing confirmedA new intermediate swing high was confirmed.
Oct 7, 2026Trend changedTrend moved from mixed to downtrend.
Oct 7, 2026New Fib zoneA new Fibonacci confluence zone formed near 7.22.
Oct 5, 2026New Fib zoneA new Fibonacci confluence zone formed near 8.01.
Oct 2, 2026Trend changedTrend moved from downtrend to mixed.
Oct 2, 2026New Fib zoneA new Fibonacci confluence zone formed near 7.76.
Sep 30, 2026Trend changedTrend moved from mixed to downtrend.
Sep 30, 2026New Fib zoneA new Fibonacci confluence zone formed near 7.24.

Last swing high

7.94

Sep 22, 2026

Last swing low

7.19

Sep 16, 2026

Elliott Wave

Wave counts are built on these swings and each one passes every rule in the rulebook. They are ranked by how many guidelines they satisfy; the preferred and alternate counts are summarized above the chart.

MethodPrice versus its 50- and 200-day averages: above both with the 50 above the 200 is an uptrend, below both with the 50 below the 200 is a downtrend, anything else is mixed. Swings: adaptive ZigZag on daily bars, pivots-1.0.0+rules-1.0.0+candidates-1.0.0+fib-1.0.1+rank-1.1.0+setup-1.0.1.