June 9, 2024

Eye of the Storm Podcast – Weekly Update – S&P 500 6/09/2024 by Michael Filighera

The weekly analysis presents us with a few possibilities, which I review in both the cash and futures markets. Overall, though, I feel we are close, if not finished with the Minor 3rd wave as per the preferred count. The alternate count remains valid as well and I discuss that potential. If Minor 3 is complete or nearly so, then the next leg will be a Minor 4th wave correction and I discuss and show the expected levels that should be reached. Next week, there bulk of market moving economic data comes on Wednesday and Thursday. Wednesday begins with the CPI data @8:30 AM EDT followed by the FED decision and Press Conference @ 2PM EDT and 2:30 PM EDT respectively. Thursday @8:30 AM EDT – Initial Jobless Claims and PPI data.