February 21, 2023

S&P 500 & NASDAQ 100 / Elliott Wave Update 2/20/2023 by Michael Filighera

Tonight I have filled in the labeling marking the completion point for the Intermediate B wave and the sub components.  As I say in the update – I still need to keep open the potential and possibilities that the markets will again find the energy to push the ES back towards 4200 and the NQ to 13000.  It is not what I’m looking for, but I can’t rule it out.  I include Fibonacci extensions for the expected Intermediate “C” wave — and also some levels for within the first 5 wave structure down.

Tomorrow, PMI Composite Flash at 9:45 AM EST and New Home Sales at 10 AM EST and both can be “market” movers.