Levels To Watch In NQ
By
The move in NQ (Emini Nasdaq 100) has really become too big to reasonably be a fourth wave. So with this push higher, the only count I can reasonably come up with to suggest we are going to see a lower low would be that this is a wave b/ii as part of a larger diagonal.
Under that case 15364-15551 is resistance, and as long as we remain under that zone the b/ii topping count remains in play as shown in blue.
Back under the 15166 level followed by a break under the 14937 level would give us initial confirmation that we may have topped in the blue wave ii/b, but we still would need a full five down off of the highs to further confirm.
If we break over that level, then it would further confirm that we may have put in a bottom in the wave ((iv)) as shown in white. This, of course, has some issues based on the structure of the move up off of the lows, so I have a difficult time with this count as well.
