Elliott Wave Update – NQ – March 31, 2021

The NQ presented more information today in which of the current counts – Preferred or Alternate is in process. Today’s intense buying pushed the NQ to within 24 points of breaking a rule. With that in mind I have moved the Alternate count to Preferred status with the Preferred down to Alternate. While I would be looking for the upside to continue tomorrow and to Fibonacci levels as it completes the minor C advance to finish the Intermediate degree B wave. However, if the market turns lower from current levels 13114 – and breaks below the 200 day MA – it would again bring the a switch between the two counts we are using. The larger picture remains the same — also included tonight some trading tips in catching the big money trades using the 2 min chart and moving averages. Friday the markets are closed in observance of Good Friday. Happy Easter to All — Stay Safe!!