Here's a count on NQ
First, some thought on the larger picture.
As discussed in the weekend piece, we are entering a 0.236 Fib time month for a potential turning point. Also note that SPX has managed to stay above the decade-long resistance zone for only three days so far. Today's low is below the zone and today's close is at the lower end of the zone range. A rejection? An attempt to break out still in progress? We shall see.
Second, some observations for the near term.
 The decline so far is likely too large for it to be a small-degree fourth wave since the January low. Moreover, today's low in NDX overlapped its first wave advance since the January low, offering a strong hint that the advance since then has ended (barring a pretty low probability event of a contracting triangle developing in NDX). So odds favor at least a correction at a larger degree (see Chart)- much larger?
 However, the decline being a part or all of a small degree fourth wave correction remains technically possible but (much) less probable than before. See the following charts on WLSH and NDX.
 The structure of the decline from the high remains uncertain, both in cash and in futures.
The following chart shows a corrective count and an impulse wave count on ES. There's a relatively clear three-wave decline in futures so far, while there could be a five-wave or seven-wave decline in cash indexes to today's low.
Tomorrow's price action should be informative.
[1040am] Tracking count update update (SPX, NDX, Apple)-
This short term count on NDX is a close call. However, if it fails, it pays to keep the larger structure/count in mind.
[730am] Overnight update (ES, DX) -
Please see Bull market, B-wave and Beyond(2/18/11) for intermediate/long term count on the USD index.