Thursday’s trade was amazing, extremely profitable and very much in line with current analysis!  The NQ dipped below 15000 during the early globex session just before launching higher in a rally that did follow thru into the beginning of the U.S. session.  The rally itself ran into stiff resistance back at the 15311 area which did hold.  The NQ flipped at that point and began to decline.  I’ve updated the Elliott labeling which does show that the NQ remains in the process of tracing out a minute wave 3 of Minor “C”.  Within the move the Globex low at 15055 marks the completion point for wave 1 of 3, with yesterday’s early high at 15361 marking the completion point for wave 2 of 3.  The collapse off of today’s 15328 high was the start of wave 3 of 3 and it was picture perfect.  I have discussed previously that at 3 of 3 move is where the market will begin to accelerate and that acceleration will intensify as support and moving averages are broken.  That is exactly what took place this afternoon.  The NQ went from being up 150 points to being down 369 points as I write this. We have dropped into another “black hole” where we have to go back to October’s trade to find price support.  That leaves a big gap with next Fibonacci support coming in at 14500 and then 14410.  The door has been opened for a continued slide to break below 14000 and I discuss this possibility on tonight’s update.