Thursday’s trade was massively interesting. The NQ followed my update yesterday to a “T” in fact it over shot resistance that I thought would contain wave 3 and give us a pull back. No way – the NQ broke back above 13000, 13100, and 13200 during the regular session. After the close when AMZN reported 1st quarter earnings the NQ shot above 13,300. It was amazing. The ES also had a tailwind blowing its sails all session. And it is in the ES that I have reverted to what became my alternate count, but I’m moving it over to preferred status due to the strength of the rally today. I update both markets as to the progress of the rallies, and update all Elliott labeling and Fibonacci retracements and extensions.
April 27, 2023