September 24, 2021

Elliott Wave Update – NQ – September 23, 2021

Thursday’s trade continued to march higher with the opening being very strong to the upside.  The break above the “no break” zone at 15307 negated the current labeling but didn’t change the “corrective” nature of the overall move.  I have updated the labeling and from the high at 15709 the NQ has moved lower in a 3 wave pattern of a Minor degree a-b-c, which I have labeled as Intermediate wave A.  The rally phase off the 14807 low remains an a-b-c structure of a Minor degree and continues to be labeled as a-b-c.  Waves ‘a’ and ‘b’ are completed placing the NQ in a ‘c’ wave advance to complete an Intermediate wave B.  It does appear that additional upside will be needed before the move is complete.  Resistance remains at 15364 to 15415 and then 15498 to 15529.