Friday’s trade continued to see higher volatility moves in both directions. The Elliott count and labeling remains in the same, but it would appear that the Minor wave 2 correction may still be in force. While there remains the possibility that Friday’s 14362 low complete the move, the start of Globex today leaves it unanswered. Should the NQ turn and break back above the 50 and 200 MA’s expectations would be for some acceleration to take hold as the market begins a Minor 3rd wave advance. The NQ should then without much problem break back above 14829 and eventually back above 15000. Conversely should the market break below 14362 it would suggest that the Minor wave 2 correction remains in force and tracing out wave 3 of “C.” If this is the case expectations would be for acceleration to pick up to the downside. Included on tonight’s update are Fibonacci extensions for a continuation of wave “C” of Minor 2. The NQ has support at 14521, 14426, 14331, 14023, with the “no break line” at 13831. Should a break below that level occur it would likely negate the larger Intermediate wave 5 count to new highs and bring about a much different situation where by the NQ would be on the way to breaking below 13000 and most likely 12000 over the near term.