January 24, 2024

S&P 500 & NASDAQ 100 / Elliott Wave Update 1/24/2024 by Michael Filighera

Both the ES and NQ made additional new all time highs on Wednesday. I review the labeling update and also next steps the for the indexes via 4th wave pull backs. I discuss where the 4th waves should get to and also add the Fibonacci retracements — once finished expectations are for minute 5th waves to again carry the indexes to new all time highs before the larger sequences are complete. Thursday pre-market @8:30 AM EST, GDP Q4, Initial Jobless Claims, Durable Goods Orders, and @10 AM EST – New Home Sales.