March 27, 2024

NASDAQ 100 & S&P 500 / Elliott Wave Update 3/27/2024 by Michael Filighera

Another wild and crazy day – at least in the NASDAQ — both the NQ and ES started with a jump to the upside which lasted all of a few minutes before the first several rounds of sellers hit the NASDAQ — the overall patterns that I’m currently tracking remained in line with the moves — and I’ve updated the charts to reflect what has taken place. I also discuss in detail an alternate view and detail how and why it would be moved into place. Tomorrow, is the quarterly and weekly expiration which already has produced some “fireworks” I would expect the volatility to continue for most of the session. The EW counts have been updated as well as the Fibonacci levels — expectations right now would be for a continuation of the upside and new highs to put in the finishing moves on minute 3rd waves. Thursday pre-market – @8:30 AM EDT – Initial Jobless Claims, GDP (2nd revision), @ 9:45 AM EDT Chicago Business Barometer (PMI), @ 10 AM EDT Pending Home Sales and Consumer Sentiment. Friday, the U.S. markets are closed – Globex will be trading and economic data will be released.