Included tonight the secondary Alternate count. Also included an updated Elliott Preferred count as well as updated Fibonacci and break levels for upside and downside moves. As expected the NQ dipped lower during globex and moved to an additional high during the US session. It did not reach the upper zone at 13688 to 13700 – but 13655 does appear to have completed 5 waves up off of the March 25 low. The Preferred count suggests the NQ should begin to drop in an Intermediate C wave decline. The current move lower off of today’s 13655 high remains important in terms of the structure put in place. It will also determine most likely direction for the NQ for the balance of April. More to come on that as we allow the market to tell us where we head next.
April 7, 2021