The Elliott Wave Theory is an Incredible Tool – Part II – Alternate Counts

As I previously discussed in Part I the Elliott wave theory coupled with Fibonacci retracements and extensions provides an accurate road map for the markets.  It also gives us the means and ability to provide a “plan B” or alternate count that runs concurrently with the preferred count.  As is often the case the alternate count is rejected by the market as the preferred count progresses.  Today, though, I’m going to present the alternate count for the NQ as of the opening of Globex on Sunday, March 21st.