$NQ #NQ-mini #Elliott Wave
In my Weekend report posted on Sunday I concluded:
“I reiterate my bullish view for NQ to tag 20,000 before we can call that large (a) up, (b) down, (c) up corrective structure having completed“.
As we expected, NQ has hit the 20,000 level.
I would like to repeat another important note:
…“If price manages to break over the red box, it will most likelt extend up to – 176.4%ext = 20,483”
This morning NQ is traded over the Red Box.

NQ-mini 120 min chart
19,874, the upper edge of the Red Box is the first micro support now.
As long as bulls hold NQ over that level, we can expect them to push NQ up to 20,480.
What bears have to do to negate that very bearish scenario for an extension?
Bears need to push NQ back under the Red Box.
So we can conclude that 19,642 is a breakdown level.