June 6, 2024

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

Not much to add to current analysis. Both the ES and NQ appear to have completed sub sub minuet 3rd waves with the potential for the 4th waves also being complete. I review the possibilities of what to expect from here, which include an additional decline to complete the 4th waves. I also review and add potential Fibonacci levels to complete the sub sub 5th waves and in turn the sub minuet 3rd waves. Bottom line there remains additional upside to do before the larger rally phases are complete. Friday is an options expiration and also after the close NVDA will split 10:1 – pre-market @8:30 AM EDT – U.S. Employment Situation & Unemployment rate. @10 AM EDT – Wholesale Inventories.