October 11, 2023

S&P 500 & NASDAQ 100 / Elliott Wave Update 10/11/2023 by Michael Filighera

Interesting trading day in both the ES and NQ. PPI data released this morning — markets really didn’t have a serious reaction – traded lower and then the opening took the markets higher. FED minutes initially had a negative tone for the markets – took the ES and NQ to session lows just before the final hour brought down the house and rallied to session highs. The Minor 2nd waves remain in progress for both the ES and NQ — both appear to be within minuet 5th waves of minute c waves of the Minor 2nd waves. So, the analysis tonight includes updated Fib extensions for the minuet 5th waves and a review of the Fib extensions for minute C wave and Minor 2nd waves. Tomorrow pre-market – CPI data  @8:30 AM EDT along with Initial Jobless Claims.