April 4, 2024

S&P 500 & NASDAQ 100 / Elliott Wave Update 4/4/2024 by Michael Filighera

Another rejection from all the markets after another hawkish statement from the FED Presidents out speaking today. The rejections were much stronger and broke the triangle patterns in both the ES and NQ. I have updated the charts to reflect the completion of the Primary B waves – thus the completions of minute 5th waves, Minor 5th waves, Intermediate C waves, and the Primary B waves. I also include the initial larger Fibonacci levels for the expected Primary C wave decline — I also include Fibonacci extensions that coincide with what I believe is the beginning 5 waves down to kick off the larger decline. Friday pre-market – @8:30 AM EDT – Non Farm Payrolls (Employment Data), @3PM EDT Consumer Credit. Also starting at 8:30 AM and running thru 12:30 PM – additional FED Presidents and one Fed Govenor will be speaking.