January 11, 2024

S&P 500 & NASDAQ 100 / Elliott Wave Update 1/11/2024 by Michael Filighera

Today’s early destruction of the ES and NQ courtesy of the CPI data didn’t toss the EW counts into as much chaos as first thought. I have updated what I feel the market is telling us, but at the same time reveal 2 additional possibilities that could be in the works. Friday is a big data day with the PPI coming out pre market and also JPM and C both reporting earnings. I discuss the possible outcome of the data and should certain directions prevail what the markets would be expected to do. All in all I’m hoping for another day similar to today in that there were many trading opportunities in both directions and for just about all trading styles.

Friday pre market – @8:30 AM EST – PPI data – also pre-market earnings from UNC, JPM, C, BK, DAL, WFC, BLK, BAC.