Elliott Wave Update – NQ – March 30, 2021

Today’s trade doesn’t leave much in the way of changes. The NQ remains pulled by both the buyers and sellers with neither player winning the “trend” award. The updated count continues to suggest that Monday’s 13004 high completed the wave -2 with minor wave iii now in it’s beginning 5 wave decline. Again we are in a position where the market should move to a high above 12916 to complete another small bounce off of the early Tuesday low. Alternately we must continue to allow for the rally to pick up steam and carry prices back to the 13000 level. Fibonacci and break levels have been updated for both upside and downside. Continue to stay flexible and trade what the market is doing. Both directions provided a nicely profitable trading day on Tuesday.