February 23, 2023

NASDAQ 100 & S&P 500 / Elliott Wave Update 2/23/2022 by Michael Filighera

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.