May 11, 2024

Eye of the Storm Podcast – Weekly Technical Update S&P 500 5/10/2024 by Michael Filighera

Posting on Friday evening – I update the EW count for the current timeframe – larger picture remains the same. I do begin to discuss the alternate view which presents a more “bullish”‘ look for the immediate time frame. A break above 5350 does begin suggest the alternate view being in control. More on that as the count/ move progresses. I update the Fibonacci levels for the minuet 4th waves now in progress the initial projections for a minuet 5th wave to complete minute 3rd waves. Next week the economic data begins to flow again with the CPI and PPI on Tuesday and Wednesday and the U. S. Leading Economic Indicators on Friday the 17th along with the May monthly expiration.