April 13, 2023

NASDAQ 100 & S&P 500 / Elliott Wave Update 4/13/2023 by Michael Filighera

Thursday’s trade was the opposite reaction to yesterday’s CPI data versus today’s PPI data — coupled with an AAPL upgrade the markets headed for the highs seen after yesterday’s CPI data.  This led me to notice an error in counting on the ES chart — I corrected that – gave a reason that the error was valid and return the count to what I was showing prior to yesterday.  However, having said all of that the triangle pattern itself remains in the picture — needing the adjustments that I have previously discussed – and review in tonight’s update.

Tomorrow premarket look for Retail sales at 8:30 AM EDT and earnings reports from JP Morgan and Citigroup.