October 18, 2023

NASDAQ 100 & S&P 500 / Elliott Wave Update 10/18/2023 by Michael Filighera

Another strange trading day that didn’t fit the mold I laid out yesterday. Nonetheless, I’ve updated the wave counts for both the NQ and ES, discuss the latest earnings reports, what was behind much of the sudden bursts higher and lower today and what can we expect tomorrow. Thursday pre-market @8:30 AM EDT – Initial Jobless Claims, Philly FED manufacturing survey, @ 10 AM EDT Existing Home Sales, and U.S. Leading Economic Indicators, @12 PM EDT – Fed Chair Powell is speaking, Vice Fed Chair Michael Barr is speaking @ 1:30 PM EDT, also Fed Gov’s from Chicago, Dallas and Atlanta will all be speaking at various places.