Monday’s trade during Globex saw the NQ break above 16256, which did seem to give support to the NQ being busy tracing out a Minor 5th wave advance with new highs expected.  That came to a complete stop as the NQ turned and started to move lower with some persistence and speed.  In the process the NQ broke back below 16109 which once again left the existing structure off of the 15986 low as 3 waves up.  This then suggests that the NQ is putting in a more complex Minor 4th wave correction with the initial decline to 15986 being wave a of 4 and the rally to 16276 being wave b of 4.  Where does that leave us in terms of what to expect tomorrow.  Well, using Elliott guidelines and structure rules my expectations would be for wave “c” of 4 to continue lower with a new low under 15986 now expected.  However, this is the NQ which at times loses control to the higher priced stocks such as TSLA which continued to see larger sellers move in.  That being said I am giving a 50% probability for either side to be dominant on Tuesday.  I’ve laid out both sides on tonight’s update.  If wave “c” of 4 is in play look for a new low under 15986 before the next rally phase takes hold.  A break above 16276 would signal that Minor wave 5 is still in play and look for the rally to break higher towards 16448.