Friday’s trade did remain within parameters laid out on Thursday’s update. The NQ did not move above Thursday’s high at 15345 but the trading action into the close and at the start of Globex on Sunday seems to point to a higher opening for the U.S. on Monday. I’ve added several layers of Fibonacci retracements and extensions to give us some indication of where the top could come in. The higher probability zone runs from 15365 to 15425 with 15465 on the topside of resistance. Once complete expectations would be for a larger “C” wave decline to begin. Remember under Elliott guidelines all “C” waves are 5 wave structures. I also include Fibonacci extensions for the expected “C” wave decline.
September 26, 2021