• Home
  • /
  • NASDAQ 100 & S&P 500 / Elliott Wave Update 10/11/2022 by Michael Filighera

NASDAQ 100 & S&P 500 / Elliott Wave Update 10/11/2022 by Michael Filighera

Tuesday’s trade was following the “plan” until the BOE chimed in and passed a “threat” to the Pension funds in the UK that they had 3 days to sell their bond portfolios back to the BOE.  That brought out the sellers here in the NQ and ES, which are already under pressure from the litany of problems and worries that are circling the U.S. financial markets.  I’ve updated the Elliott labeling and detail what we can expect to see for both an upside and downside move.  I also review support and resistance.

Tomorrow pre-market the PPI data will be released, and the surprise would be that there isn’t a reaction.  Whether the NQ and ES do a “pop and a drop” or a “pump and a dump” I’m looking for a reaction.  I discuss each scenario and also bring the Elliott picture and Fibonacci.


Tags


You may also like

{"email":"Email address invalid","url":"Website address invalid","required":"Required field missing"}

What is your biggest Trade Killer?

Use the Trader Test to find out:

This assessment is one of many designed for traders and investors by Richard Friesen of MindMuscles.com, to help them refine and expand their mental game.

Commodity Futures Trading Commission: Futures and Options trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don't trade with money you can't afford to lose. This is neither a solicitation nor an offer to Buy/Sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site. The past performance of any trading system or methodology is not necessarily indicative of future results.

CFTC RULE 4.41 - HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.

Content on this site is for educational and entertainment purposes only. Nothing on this site should be viewed as trading advice.