October 25, 2023

S&P 500 & NASDAQ 100 / Elliott Wave Update 10/25/2023 by Michael Filighera

ES and NQ continued to decline after MSFT and GOOGL earnings boosted the indexes yesterday after the close. I have adjusted the labeling for Minor wave 3 in that minute 3 is subdividing more than I originally marked. This suggests that both the ES and NQ still need a minuet 5th waves to complete the minute 3rd waves and yield to minute 4th waves. Overall, though, both markets are remaining on track to complete Minor 3rd waves as previously discussed.

Tomorrow pre-market @8:30 AM EDT – GDP, Initial Jobless Claims, Durable Goods Orders – @10 AM EDT Pending Home Sales.