June 12, 2024

S&P 500 & NASDAQ 100 / Elliott Wave Daily Update 6/12/2024 by Michael Filighera

Wild day in the markets — starting with the CPI and finishing with the FED and AVGO earnings. Both the ES and the NQ continue to extended as both reach higher to complete upside sequences within Minor 3rd waves. That remains the picture for now — however, the extensions are brutal and parabolic in nature. I’ve updated the labeling and the Fibonacci resistance levels. Thursday pre-market @ 8:30 AM EDT – Initial Jobless Claims & PPI.