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  • Elliott Wave Update – NQ – June 30, 2021

Elliott Wave Update – NQ – June 30, 2021

Wednesday’s trade was slow with low volumes.  This does not offer any changes to the current Elliott counts and labelling.  It does though, give us our first break level on the downside which could if triggered put the top in place.  Current labelling shows the completion of subminute wave 3 at the globex high at 14598.50.  Off of that high a subminute wave 4 correction has been unfolding and looks to still be in progress.  There is additional support for the move at 14490 and then 14456.  The market can not break below 14422, which is the first breakpoint that would give stronger support to the highs being in and a larger correction being in the initial phase.  Expectations though, remain for the NQ to again move up to new all time highs above 14600 to complete the multiple sequences, (subminute, minute, minor, Intermediate, and Primary) and put in a long term top.  Resistance to complete the moves begins at 14627, 14661, 14695, 14720, and 14731.


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