February 20, 2024

NASDAQ 100 & S&P 500 Elliott Wave Update 2/20/2024 by Michael Filighera

Markets continued to consolidate on Tuesday with a bias towards the downside. I have updated the labeling in the NQ, while the ES remains the same for now. I also discuss break points that need to hold in the NQ, while the ES appears to still need to break lower but within limitations. For now, expectations remain for the minute 5th wave rallies to pick up again and take both markets to new all time highs. I discuss break points to the downside which may put new highs in serious jeopardy.