Both the NQ and the ES remain in the process of putting in a minuet second wave with today's high likely finishing wave "b" of minuet ii - leaving a "c" wave down to complete the minuet second waves.
The Elliott Wave pattern as left on Monday, did not follow through as I had expected. Fortunately, before the opening I recognized what was going on and made the labeling changes. That then is what is reflected on Tuesday's Update. Both the NQ and the ES remain in the process of putting in a minuet second wave with today's high likely finishing wave "b" of minuet ii - leaving a "c" wave down to complete the minuet second waves. I have also included and updated the Fibonacci levels. Also, I do discuss what to look for and expect should the markets again pick up the rally and tack on an additional 3 to 400 points.
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