December 11, 2023

S&P 500 & NASDAQ 100 / Elliott Wave Update 12/10/2023 by Michael Filighera

Strange opening to start Globex on Sunday due to the contract roll from the December 2023 to March 2024 contract. I was surprised a little bit on the size that was coming in to trade at the start of Globex, but orders are getting filled. I have updated the charts to reflect the March 2024 contract which in the ES includes about $52 premium and in the NQ about $210 premium. Thus the prices gapped higher on the opening but when put into perspective have moved within a $7 range in the ES and $30 range in the NQ. I’ve updated the counts and present again both sides of the markets — upside and downside which is prudent until the markets make clear the larger count in progress. Until that I leave it as the preferred and alternate for now. I also update the Fibonacci resistance levels — I also quickly discuss that the bigger picture(s) have not changed and both markets appear on track to complete the Primary B wave moves soon. I also lay out future plans for YouTube – (switching to Memberships vs ads) and adding easier access to coaching and our Trade Room. Currently we are looking towards the beginning of 2024 to launch the new products.