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.