May 13, 2024

NASDAQ 100 & S&P 500/ Elliott Wave Update 5/13/2024 by Michael Filighera

Fair trading early in Monday’s session. All directions, up down and sideways were met with equal enthusiasm. I’ve updated the labeling after today’s price action and discuss one possibility for a quick “downdraft” created by either PPI or CPI (Tuesday and Wednesday). Also review resistance levels and the EW labeling for this week. Tuesday @ 8:30 AM EDT Producer Price Index, FED Chief Powell speaks at 10 AM EDT.