Wednesday’s trade continued to adhere to current analysis.  The NQ rallied off the opening breaking above resistance at 16336 and appeared to be headed for next resistance at 16400 – stopping just short of that level before turning and selling off.  I’ve updated the labeling to reflect the moves.  I am continuing to count a Minor degree 5th wave advance.  Within wave 5, the NQ has completed minute waves 1 and 2 with wave 3 subdividing as discussed on Tuesday’s update.  Within wave 3, today’s 16396 high looks to have completed wave 3 of 3, with a small but powerful 4th wave still in progress.  Expectations then remain for the minute 3rd wave to finish to the upside by breaking above resistance at 16400 and on up to next resistance which is 16448.50.  This level may basically hold =/- 5 points in either direction.  Once minute wave 3 is complete expectations would be for a minute 4 wave correction back down to below 16400 before completing.  With a minute wave 5 advance still out there to come expectations remain for new all time highs with resistance remaining at 16448.50, and then 16500, 16608 to 16650 and then 16828.