July 9, 2023

NASDAQ 100 & S&P 500 / Elliott Wave Update 7/09/2023 by Michael Filighera

Friday’s trade has left us with a mixed bag to deal with in terms of direction for globex and the start of the week.  Tonight I’m presenting both the preferred count ( ES ) and the alternate count (NQ) and what each suggests and what we should see from the market to give support to either side as establishing trend.  I also include Fibonacci retracements and extensions for all the possibilities – to both the upside and downside.

Tomorrow @10 AM EDT Wholesale inventories and Fed Vice Chair Barr will be speaking, @ 11 AM EDT – San Francisco Fed and Cleveland Fed