Elliott Wave Update – NQ – April 8, 2021
The advance continued on Thursday, but didn’t pick up speed and volatility until 2 minutes before the closing bell. This threw follow thru into the Globex session where the NQ has cleanly broken above the 13,800 level. New highs are very probable now with an extended move to ultimately move above 14,000 and possibly above 15,000 before all is said and done. Also included tonight I discuss Elliott and Fibonacci relationships as they pertain to impulse waves. Tuesday, I moved the Alternate count to Preferred status which does now include new highs. Today I am starting to build a zone that will a) provide a probable area to complete the Minor wave 3 and 5 (above 14000), plus levels to complete the Intermediate wave 5 which are above 15000. Again tonights update is a little longer, but worth listening to gain insight in understanding the roadmap the market has a high probability of completing.