NQ continued to bounce higher and reversed just shy of the 50% retracement. The reversal on the 5min looks pretty impulsive.
So lets go with wave 2 of (3) done. One thing I don't note on the chart, which I realized today, is that wave (3) can also be considered complete where I have it labeled as (3)=(1) at the 17351 low. The subsequent bounce from there would be considered wave (4).
At this point its all the same as far as expected next direction and that should be down if we consider wave 2 of (3) or (4) complete. The next leg down should challenge the 17351 low and break through.
If the next leg is wave 3 of (3) down, 3 = 1 @ 16117.
The red Alt count is still in play. In order for this count to remain valid, it cannot break below 17351 and needs to run past today's high to signal wave 3 Alt red up.
