February 22, 2024

NASDAQ 100 & S&P 500 / Elliott Wave Update 2/22/2024 by Michael Filighera

Thursday was a power up day within the equity indexes. All were led higher by NVDA earnings — the good cheer spread to other/all AI related stocks and even some that are not related. In any case — I have labeled as complete the minute 4th waves in the NQ and ES — I also clarify that IMHO both markets remain within ending diagonal triangles – I go over the rules for contracting and expanding triangles – and again made an adjustment to the labeling in the NQ. I also revised the Fibonacci extensions for minute 5th waves with some very interesting results. No data due out on Friday —