June 10, 2021

Elliott Wave Update – NQ – June 10,2021

Thursday’s trade was picture perfect and hit the mark on several levels.  Coming in today I was expecting some additional selling to push the NQ to a new low under 13741 to complete the small wave 2 correction — the low came in at 13726 just before the opening. I was then looking for a launch off the low to give credence and support that a wave 3 advance was beginning – within the first hour the market zipped up to the morning high at 13964. After the obligatory 100 point sell off immediately off the high, the NQ did manage to move into a steady climb to the close getting to new session high as the bell rang – which,  btw I do have courtesy of the  TOS platform! Expectations from here would be for a continued slip slide moves both higher and lower with an ultimate up channel holding on the hourly and daily charts.  Fibonacci resistance zones for upside moves are updated.  Expectations remain for the NQ to push to new highs above 14064.