NQ - after a completed five wave up structure we normally get a large corrective structure
NQ - 240 min chart updated at 9-30 PM on 5-24-2021
I would like to see a bigger corrective fractal to play out. Normally, after completion of a five wave up structure, a corrective pullback re-tests the low made by wave 4 down, the low made by the previous corrective wave of one degree lower. On the NQ chart above you can see that so far NQ has not tested that low.
This is why I count a move up off the last low made on May 13 as a corrective wave -b- up.
Corrective (A)-(B)-(C) down fractal that normally follows a completed five wave up fractal
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