#NQ $NQ #trading setup #Elliott Wave
My preferred macro count argues that:
- the rally off the Oct 22 needs to make one more push higher before we can consider it having topped
- before the final leg up begins price may plunge hard down to the Green Box in completion of a subwave (b) down of wave (v) up.

NQ-mini Daily chart
Let’s zoom-in to a 60 min chart:

NQ-mini 60 min chart
Bulls could squeeze here a nominal higher high to tag the upper Red Box. But I think the next big move is going to be a sharp drop down to 19,535. I would expect that drop to extend lower to the target / support 3 = 18,600. Bulls have to fight hard in order to keep NQ over 18,000. Because a break under 18,000 would pen the door for a bigger move down targeting 17,400 (undercutting the low made in early Aug 2024).