August 30, 2023

NASDAQ 100 & S&P 500 / Elliott Wave Update 8/30/2023 by Michael Filighera

Minor wave 2 continues to move prices higher — albeit without the same intensity that we saw yesterday. Nonetheless, I have updated the charts with the labeling within minute wave “C” – thus far I believe the ES and NQ have completed minuette waves 1 – 4 with minuette wave 5 still needed — I also updated the Fibonacci retracements for wave “C” of Minor 2 and also for minuette wave 5 of minute C. Tomorrow pre-market @8:30 AM EDT – Initial Jobless Claims and PCE Index data will be released. @9:45 AM EDT Chicago Business Barometer.