$NQ #NQ-mini #trading setup #Elliott Wave
We expected the rally to stumble upon a confluence of two strong fibs at 20,762 (see two red arrows):

Note that price dropped under the support of the blue trend line. When price breaks under the upward sloped trend line and then it makes a slightly higher high you can be sure we have a negative divergence. Negative divergence is detected by many oscillators when pace of ascent decelerates. Price keeps making higher highs but it takes bulls more and more time to do that.
NQ hit the resistance. I expect a corrective a-b-c down pullback to be followed by another leg up.