Tonight I review the cash markets (SPX & NDX) as well as the futures (ES & NQ). Most notable will be the degree change within the Primary C waves. I’ve moved what was labeled as Minor waves 1 and 2 to Intermediate waves 1 and 2. Friday’s turnaround was astounding as volatility trades took over early and lasting the entire session. I also bring into the conversation what is going on in Treasuries and how I’m viewing the coming months for both the treasury and equity markets. I’m looking at the period from October 2023 to April/May 2024 for the bottom and completion point for Primary C waves as well as Cycle A waves. with the balance of 2024 into 2025 being busy with Cycle B wave countertrend rallies.
October 8, 2023