June 2, 2024

Eye of the Storm Podcast – S&P 500 Weekly Technical Update – 6/02/2024 by Michael Filighera

Weekly update for the S&P 500. I take a quick look and review of the Alternate count (Primary B wave) and again reaffirm that the Preferred count ( Primary 5th wave) remains in place. I update the labeling and Fibonacci levels after Friday’s expiration. Expectations remain for the advances to continue with the market likely heading above 5400 next week to complete the Minor 3rd wave. Next week’s economic data will include S&P flash manufacturing and services PMI’s, ISM Services, U.S. Trade Deficit, and Jobs data leading up to Friday’s release of the Non Farm Payrolls report for May.