November 27, 2023

NASDAQ 100 & S&P 500 / Elliott Wave Update 11/27/2023 by Michael Filighera

Both the NQ and ES produced some strong intraday moves but within the context of the hourly charts did not break out of the sideways moves that have been controlling trade since last week. This levels current analysis basically unchanged — I’ve again reviewed the structures and still feel that we need to leave open the potential for additional downside before the 4th waves are complete. This then leaves minute 5th waves up still to come and that leaves upside Fibonacci levels in place as well. Tuesday @10 AM EST – Consumer Confidence data is reported – the balance of the day will see 3 Fed Governor’s with speaking engagements.