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Elliott Wave Update – NQ – July 21, 2021

Wednesday’s trade what not easy to trade.  Easy to read but the NQ didn’t always choose to comply or follow what the balance of the indexes were doing.  So, as a day trader it was difficult.  However, having said that persistence and tenacity lead the day and I along with others were able to turn an “ugly” day into a profitable day.  The NQ eventually did confirm the current wave count and I’ve added additional labelling to reflect the progress of wave 3 of Minor 5.  The 3 of 3 move as discussed on yesterday’s update did not start off with much enthusiasm in the way of a thrust higher.  Day trading the NQ today was a difficult task to say the least — there were long periods of no follow thru — sudden jerks lower and higher — it was full of surprises both good and bad.  For tomorrow I am expecting the wave 3 of Minor 5 to continue with resistance at 14855, 14875 and 14932 the likely zone to complete wave 3 and set the stage for a small wave 4 correction.  Ultimately I am still expecting Minor wave 5 to reach new highs above 14996 with first resistance coming in at 15034, with the zone extending well above 15100.

 


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