December 12, 2023

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

The rallies continued on Tuesday in spite of inflation increasing last month. Both the ES and NQ marched to new sequence highs and pushed to 4700 in the ES and 16600 in the NQ — I’ve updated the EW counts and labeling with greater detail of the extensions within the minute 3rd waves. I also review and add additional Fibonacci levels for the balance of the moves. Wednesday pre-market @8:30 AM EST PPI data and @2 PM EST – FED Rate Decision and @ 2:30 PM EST FED Chair Powell’s Press Conference.