March 20, 2024

NASDAQ 100 & S&P 500 / Elliott Wave Update 3/20/2024 by Michael Filighera

I readjusted the labeling for both the NQ and ES as I decided not to be a rebel without a cause and label the 4th waves as triangles with an ongoing diagonal triangle — just too rare and not likely –so I cleaned up my count and then waited for the FED decision which was a green light for the algorithms to move in and buy for the balance of the sessions. I updated the counts and place both the NQ and ES within minute/minuette 5th waves up. It will continue to get very interesting from here on — In the meantime there is still additional upside with new ATH’s still to come. I also update and include the Fibonacci levels for the additional upside moves. Thursday pre – market @8:30 AM EDT – Initial Jobless Claims and Philly Fed Manufacturing Survey, @9:45 AM EDT – S&P flash Services PMI and S&P Flash Manufacturing PMI, @10 AM EDT – Leading Economic Indicators and Existing Home Sales.