Monday’s globex trade did not offer any changes to make to current analysis.  The NQ does appear to still be working through a “C” wave decline to complete the larger Intermediate 4th wave correction.  Within wave “C” I’m counting as complete waves 1 and 2 of “C”.  Wave 3 of “C” is subdividing and the NQ does still carry the potential for an additional leg up with a break above 15655 in the works.  The move itself does not necessarily change the downside view but does allow for a rally up towards the hourly 200 MA at 15762.  Thus far Globex trade is holding within a tight range basically between the hourly 50 and 20 MA’s.  Expectations remain for wave 3 of “C” to pick up to the downside with acceleration taking place.  Ultimately the NQ should reach 14500 to finish wave 3 of “C” with the entire “C” still likely to complete at Fibonacci support at 14410.