November 15, 2023

S&P 500 & NASDAQ 100 / Elliott Wave Update 11/14/2023 by Michael Filighera

The markets reacted positively to the latest CPI data – the breadth of the market was 11:1 on the NYSE – that is big! Combined with the additional days of larger market breadth suggests that the overall wave structure is different than what I’ve been presenting. Although I’ve included an alternate count and also continue to include higher Fibonacci levels it has become necessary to revise the count. Tomorrow pre-market – @8:30 AM EST – PPI data, U.S. Retail Sales, Empire manufacturing index. @ 10 AM EST – Business Inventories.