November 7, 2023

S&P 100 & NASDAQ 100 / Elliott Wave Update 11/07/2023 by Michael Filighera

The ES and NQ continued to march higher with the Mag 7 and the NQ leading the way. I update the preferred count where both markets are moving through Intermediate 2nd waves. Thus far in both it appears that Minor ‘a’ waves are complete or nearly so. Once complete, look for Minor ‘b’ waves to begin to the downside. Tomorrow – the day is filled with Fed officials speaking at a meeting of the IMF – (I think), @5:15 AM EST begins, @9:15 AM EST – Fed Chair Powell speaks, @10 AM EST – Wholesale Inventories, @2PM EST Fed Vice Chair Barr speaks, and @4:45 PM EST – Fed Vice Chair Jefferson speaks.