May 31, 2022

NASDAQ 100 / Elliott Wave Update 5/31/2022 by Michael Filighera

Tuesday’s trade was more of an “inside” day then any continuation of last week’s strong rallies or the week before where we saw strong declines.  Volumes were on the low side — and today’s volume numbers include Sunday and Monday’s Globex sessions plus Tuesday’s full U.S. session.  The attention remains on AMZN as the stock moves towards the next Monday when the 20:1 split will take place.  AAPL also saw several attempts to move the stock above 150, which didn’t really pick up the momentum to get over that bump in the road.

There aren’t any changes to make to the labeling or the wave count(s) both preferred and alternate that were presented on Monday’s update.  For tomorrow, all of Monday’s analysis remains in play both the upside and downside scenarios.