Another volatile day in the ES and NQ – another alternate view on what is happening as both the ES and NQ remain trading “in a box”. A review the preferred and alternate views for the current minute 4th wave still in progress. I did include an additional alternate view for the NQ which is the possibility for wave 4 developing a triangle pattern. Overall though, expectations remain for an additional minute 5th wave down yet to come to complete the larger Minor 3rd waves still in progress. Tomorrow pre-market @8:30 AM EDT – U.S. Employment Situation report – I’m sure it will have a directional impact for the markets.
October 5, 2023