Thursday’s trade continues the market’s streak of wild and crazy moves. But, the moves themselves were revealing and clarifying towards the EW counts for both markets. I have, then, adjusted the labeling which may clear up some questions folks have had. I also have readded the Fibonacci retracements for Minor wave 2, the Fibonacci extensions for the possible continuation of minute 5 of Minor 1 and the larger Fib extensions for the larger Intermediate C wave decline.
Tomorrow pre-market the Consumer Spending, Personal Income, PCE Index at 8:30 AM EST and New Home Sales and Consumer Sentiment at 10 AM EST. It is also an expiration so look for volatility moves and gamma squeezes across most asset classes.