NQ1! Nasdaq futures analysis (resistance & supp, Elliott) 02-09
What we saw today is an expansion of what we saw on previous days:
-Strong up movement corrects fast when meets an important resistance, and then retakes to completely recover the correction.
From an Elliott perspective, today's movement is similar but from a higher degree than what we saw previously
Therefore I would consider this a wave 4 of something one degree higher of what we had been watching
After a wave 4 begins, it's very difficult to determine its end.
Therefore tomorrow's perspective is not clear at all, it's better to wait outside
-Strong up movement corrects fast when meets an important resistance, and then retakes to completely recover the correction.
From an Elliott perspective, today's movement is similar but from a higher degree than what we saw previously
Therefore I would consider this a wave 4 of something one degree higher of what we had been watching
After a wave 4 begins, it's very difficult to determine its end.
Therefore tomorrow's perspective is not clear at all, it's better to wait outside
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