Today, I again begin with the weekly charts for the S&P 500 and NASDAQ 100 both cash and futures. I first remove all the Fibonacci levels and review again the Elliott counts – updating last weeks action – and then rebuild all the Fibonacci levels associated with the various levels that are completing – from Primary B to Intermediate C to Minor 5th’s to minute 5th’s and likely next week minuet 5th waves. I show where the “clusters” of resistance are forming and what that suggests for the markets. Next week should continue to be “a climb to the stars” as the S&P 500 and NASDAQ are both expected to move to additional new all time highs.
February 11, 2024