Elliott Wave Update – NQ – April 5, 2021

Today’s trade was strong from the buy side, but lite on the volume. Not what I would expect with the intensity of the buyers. Expectations were for the continued upside and the NQ is now honing in on the upper end of the zone and that is now Elliott resistance at 13688 to 13700. I’m expecting the zone to hold and produce the next decline. It will be an important one to both directions, so should it occur the market will be more telling of what is to come in terms of a move above 13700 to 13900 or a break back below 13000. I have also taken a look back via the weekly and monthly charts – and have an additional secondary Alternate count – I’ll include it on tomorrow’s update – be sure to check it out.