December 4, 2023

NASDAQ 100 & S&P 500 / Elliott Wave Update 12/03/2023 by Michael Filighera

Globex starts lower for both the NQ and ES — NQ a bit stronger to the downside, while the ES holds closer to unchanged. I review Friday’s action and present both an upside scenario and a downside scenario — neither is out of place in terms of a breakout in either direction — both are wrapped around the current 4th waves and whether they are complete or still in progress. I also review the Fibonacci retracements and extensions for both scenarios. Monday @10 AM EST – Factory Orders.