Elliott Wave Update – NQ – May 2, 2021

Friday’s trade did not provide much in the way of changing the Elliott count for the NQ. I am continuing to trace the development of a wave “c” to complete a minor wave 4 corrective sequence. Wave “c” has thus far traced out wave 1 with wave 2 still in progress. Monday’s trade could see a finishing advance back towards 13978 to 14000 to complete the bounce with wave “3” of “c” taking over. Ultimately I am still looking for a move below 13700 to occur before the next advance a minor wave 5 begins.