Extreme volatility was the order of the day on Tuesday. Both the ES and NQ did follow through on analysis presented yesterday. That did not necessarily make trading any easier and the picture isn’t likely to clear up while the situations brewing around the globe and within the U.S. government find some resolve. I updated the labeling and the Fibonacci levels to watch for. And again discuss how and why I presented the alternate count yesterday and have moved it to preferred count today. Tomorrow pre-market @8:30 AM EDT Housing starts and Building Permits.
October 17, 2023