August 15, 2022

Eye of the Storm Podcast for the NASDAQ 100 & S&P 500 8/14/2022 by Michael Filighera (Big Picture Update)

Today’s podcast is a combined post that includes the big picture Elliott review and discussion on how Elliott is constructed and where the markets are now. Also included are trading discussions on how to choose how to trade a “bottom” or “top”, on how Elliott works in helping clarify the trade parameters and time parameters for “bottoms” and “tops.” I also bring into the discussion the US economy, interest rates, local economies and the financial media spinning a narrative brought to you by whomever is paying for the airtime.

Both the ES and the NQ rallied strongly on Friday in what I’m now suggesting was a “huge” short squeeze. I discuss how this can get going and how it can be sustained as I turn the discussion to the supply/demand equations and “value”.

I also discuss both view(s) #1 and #2 which continue to run parallel to each other. Both are together reaching a short-term top and I include Fibonacci support and resistance levels for a drop lower and/or a finishing rally.

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