July 11, 2021

Elliott Wave Update – NQ – July 11, 2021

Friday’s trade gave some much needed support to the current detailed count I have been using as the NQ works it way higher to complete fifth waves of subminute, minute, minor, Intermediate and Primary degrees.  I have labelled Thursday’s low as the completion point for subminute wave 4 with subminute wave 5 now underway having completed waves 1 and 2 of 5.  The process will remain the same in that the market will continue to “stair step” its way higher.  Next Fibonacci resistance remains at 14841 to 14886, but ultimately the entire group of sequences is still expected to bring the NQ above 14900 and likely 15000 before all is said and done.  Today’s update includes upside and downside break points, as well as Fibonacci extensions being drawn for subminute wave 5, minute wave 5 , minor wave 5, and Intermediate wave 5.