April 26, 2021

Elliott Wave Update – NQ – April 26, 2021

Monday’s trade again did an about face over what my preferred count was looking for. The alternate view also discussed on last night’s update did suggest the market would continue higher to complete the internal “b” wave of the ongoing minor wave 4 correction. After TSLA’s earnings after the close the NQ zipped to 14039 before dropping 40 points. The globes session isn’t taking any chances and continues to hold above 14000. We have the major tech players reporting tomorrow, Wednesday, and Thursday. APPL, AMZN, FB, and GOOG all report which if history teaches us anything will provide some quick and treacherous moves. I’ve laid out Fibonacci extensions for the balance of minor wave 4. However, there is now a stronger potential that Thursday’s low at 13702 completed minor wave 4 and the market is moving higher within a minor wave 5 advance. I have also included Fibonacci levels for minor wave 5 and break points that would point towards it being the preferred count.