• Home
  • /
  • Blog
  • /
  • Elliott Wave Update – NQ – July 6, 2021

Elliott Wave Update – NQ – July 6, 2021

Tuesday’s trade did for the most part follow current analysis.  The NQ did push to a new high at 14790 and I’ve labelled that high as the completion point for the subsubminute wave 3 with the wave 4 correction dropping the market about 150 points to session lows at 14625 before completing.  This suggests that the NQ is again advancing within a subsubminute wave 5 to complete the subminute wave 3.  Resistance for subsubminute wave 5 comes in a zone from 14812 to 14840. Once subminute wave 3 is complete I will be looking for an additional corrective 4th wave to unfold and likely drop the market back towards the 14700 to 14675 area.  Ultimately expectations remain for the larger advancing sequences to finish above 14900 to 15200.


Tags


You may also like

{"email":"Email address invalid","url":"Website address invalid","required":"Required field missing"}

Commodity Futures Trading Commission: Futures and Options trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don't trade with money you can't afford to lose. This is neither a solicitation nor an offer to Buy/Sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site. The past performance of any trading system or methodology is not necessarily indicative of future results.

CFTC RULE 4.41 - HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.

Content on this site is for educational and entertainment purposes only. Nothing on this site should be viewed as trading advice.