February 15, 2024

S&P 500 & NASDAQ 100 / Elliott Wave Update 2/15/2024 by Michael Filighera

The inflow of capital into the RTY and DJIA kept the broader markets very active and growing to the upside. The NQ for the better part of the session was lower and struggled to get its head above the zero line. However, it did and then AMAT’s earnings brought a fresh round of running of the bulls after the bell. I have set up the Alternate count on both charts tonight as I found it necessary due to the height of the rally in the ES. Also, in the NQ for that matter. Much will rest with what or how the markets interpret the PPi data due out tomorrow morning premarket — I discuss both sides of what could happen and what that may be suggesting for positioning. Also restated Fibonacci extensions the correspond with minute 5th waves. Friday, pre-market @8:30 Am EST – Housing Starts/Building Permits — PPI, @10 AM EST – Consumer Sentiment.