Levels to Watch In NQ

The NQ (Nasdaq 100 Futures) are down this morning but still over the 15325 lower end of the pivot. We will need to see a sustained break of this level to signal that we are already in the wave (ii) of iii down.  Until that level breaks I still have to allow for a wave c of (ii) to move higher into the 15479-15628 zone.  

If we do break down, then the 15204 level is going to act as the next key pivot/support level below to confirm that we are moving lower in the wave iii of 3 down. 

But, again, we first need to see a sustained break of that 15325 level to give us a signal that we have indeed begun the wave (iii) of iii down.

NQ 9196 30m
NQ 9196 30m
Michael Golembesky is a senior analyst at ElliottWaveTrader covering US Indices, the US Dollar, and the VIX. He contributes frequently to Avi's Market Alerts service at EWT while also hosting his own VIX Trading service.