Tuesday’s trade continues the current string of awesome trading with solid profitability.  The NQ caught a downdraft during the globex session with the market beginning the U.S. session down over 250 points.  I have updated the labeling by putting the completion point for minute 4 at yesterday’s closing high at 14524.  That may be premature in that the NQ could still be within wave 4, in that yesterday’s high completed wave A of 4 and the decline still in progress could be wave B of 4.  However this would  remain valid until the NQ breaks below 13706.  The currently weakness has me leaning more towards the minute 4 wave being complete and the minute wave 5 is underway now.  If this is the case expectations would again include additional acceleration lower with a break below 13706 imminent.  I have added Fibonacci extensions for wave 5, which give support levels at 13648, 13374, 13012 (which is the .618 level) and then 12902 to 12715.  Below 13,000 the NQ would run the risk of negating the current Elliott count of the NQ being in the process of tracing out an Intermediate wave 4 correction.  That “no break zone” remains at 12465. A break below that level would negate the current count and force the relabeling of the 16768 as the completion point for Intermediate wave 5, Primary wave 5, and Cycle wave 5 putting the NQ in a the process of tracing out the initial leg down of a multi year correction.