December 27, 2023

NASDAQ 100 & S&P 500 / Elliott Wave Update 12/27/2023 by Michael Filighera

Year end position squaring continued on Wednesday. Both the NQ and ES produced additional highs for the sequences. I have now made the adjustment within the NQ where I have moved minute wave 1 of Minor 5 which puts the NQ in the finishing stages of minute wave 3 of Minor 5. The ES remains in the finishing stages of minute wave 5 of Minor 3. Bottom line there remains upside yet to come before the larger sequences are complete — the markets are getting close – but I’m continuing to believe the highs will come likely within the first couple of weeks in January 2024. Thursday pre-market @ 8:30 AM EST – Initial Jobless Claims, Advanced Trade Balance in Goods, Advanced Retail and Wholes Inventories with @ 10 AM Pending Home Sales.