June 26, 2024

NASDAQ 100 & S&P 500/ Elliott Wave Daily Update 6/26/2024 by Michael Filighera

Again not much to be adding – the markets continue to consolidate and prepare (window dressing) for Friday’s quarterly expiration. I’ve again made some adjustments to the labeling to reflect what the markets are actually doing. I don’t expect the prep for Friday’s expirations will be complete before Friday, and I therefore am looking for an additional leg down to finish the small sub-minuet 4th wave and yield to a sub-minuet 5th wave which should again move the markets to new ATH’s. Thursday pre-market @8:30 AM EDT – Initial Jobless Claims, GDP (2nd revision), Durable Goods Orders and @10 AM EDT Pending Home Sales.