NQ-mini: A Pullback Can Be Followed By Another Push Higher

#daily #tradingsetup #macro #micro #Harmonic Elliott Wave

I count the (a)-(b)-(c) up move up off the October 2022 low as a corrective bounce:

NQ has approached a resistance formed by:

– 50% retracement applied to teh preceding decline and

– 123.6% ext of the first leg up off the low labelled as (a) up.

Let’s have a look at a micro count on a 30 min chart:

On a micro level its difficult to call NQ having topped because the wave -v- up lacks an a-b-c subdivision.

That spiky move up could be subwave -a- of wave -v- up to be followed by a pullback in subwave -b- down.

That count fits the “most painful” count in ES mini discussed in my previous update yesterday evening.

This morning we got a spike over the previous high made at 12,118 that got quickly faded. That is a failed breakout setup:

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