Friday’s trade was somewhat revealing in the NQ.  The market did drop under 15738 reaching 15652.  The start of the Globex session thus far is producing more downside with the NQ again below 15700.  If the NQ fails to close on a hourly basis below 15650 it would keep alive the potential for a stronger rally on Monday back above 15900 to complete the minute wave 2 of “C.”  I have updated the Elliott count and labeling to reflect again a shift from of the alternate view becoming the preferred view again.  This also suggests that the all time high for the NQ remains at 16768.  It is at that level I have labeled it as the completion point for the Minor and Intermediate 5th waves.  The low at 15538 then becomes the completion point for a Minor wave ‘a’ with the rally to 16459 being the completion point for Minor wave ‘b’. Thus the NQ is now dropping in a Minor ‘c’ wave decline and will contain 5 waves down of minute degree.  I have updated the count and also included additional Fibonacci extensions to trace the development and possible completion points for wave “C”.  Wave “C” would also be expected to take out the low of wave “A” with support beginning at 15494, 15231, 14930, 14762, and then 14472.