Thursday’s trade saw the likely completion of the minute 4th waves in the NQ and the ES. While the NQ was stronger coming of the lows the ES along with the DOW and the RTY labored to rally during Thursday’s session. I have update the labeling again and hopefully today’s lows in the ES marked the completion points for the minute 4th waves. I have also updated the Fibonacci extensions for the Primary B wave including the Fibonacci levels for an irregular B wave taking the ES and the NQ to new all time highs. Also, updated are the Fibonacci extensions for the Intermediate “C” waves and the minute 5th waves.
Tomorrow pre market the S&P Flash manufacturing PMI and the S&P Flash services PMI are released at 8:30 AM EDT. at 5:15 AM EDT St. Louis Fed President Bullard will be speaking and at 1:40 PM EDT Cleveland President Mester will be speaking.