December 19, 2023

S&P 500 & NASDAQ 100 / Elliott Wave Update 12/19/2023 by Michael Filighera

Year end positioning continued on Tuesday with the DJIA and RUT playing a bit of catch up. The ES and NQ also produced steady gains again with the ES moving to new all time highs — and the NQ breaking above 17000 with the NDX also making new ATH’s. It appears though that both the ES and the NQ need additional upside before the current sequences for minuet ‘iii’ waves are complete — thus minuet “iv” wave corrections are still needed along with minuet ‘v’ waves up to put the finishing moves the rallies. Tomorrow pre-market @8:30 AM EST U.S. Current Account @10AM EST Existing Home Sales and Consumer Confidence.