November 20, 2023

NASDAQ 100 & S&P 500 / Elliott Wave Update 11/20/2023 by Michael Filighera

It took some time, but the upside kicked back in on a stronger basis on Monday. Both the NQ and ES made new sequence highs reaching next levels of Fibonacci resistance — and the charts reveal that both indexes are likely to continue higher before the minute 3rd waves are complete. This in the case of the NQ will likely negate/invalidate the Intermediate wave 2 count. Tomorrow @ 10 AM EST – Existing Home Sales, @ 2PM EST – FED minutes from 10/31 meeting released. After mkt close – NVDA earnings released.