February 8, 2023

S&P 500 & NASDAQ 100 / Elliott Wave Update 2/08/2023 by Michael Filighera

Wednesday’s trade was a continuation of the dominance of algorithms and the absence of macro traders. Nonetheless, there are no major or minor changes to make — both the ES and NQ still appear to be in the process of putting in a minute 4th wave and still likely needing additional downside. I’ve added Fibonacci retracements for minute 4 and then also added Fibonacci extensions for the potential of the expected minute 5th waves.

I am in the process of adding new tools, an additional moderator and lots of new indicators to fine tune trade set ups, to the LogicalSignals trade room. Dan Ascani and I have agreed to start a venture via the LogicalSignals Trade Room. If you are reading this and wanting to be kept in the loop and informed of what to expect. Drop a comment on YouTube and be sure to get on my subscriber list and email list.

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