May 14, 2023

S&P 500 & NASDAQ 100 / Elliott Wave Update 5/14/2023 by Michael Filighera

The ES and NQ have been stuck in tighter ranges awaiting additional information as to several “fronts” on interest rates, debt ceiling discussions, the banking sector, etc, etc.  I discuss each market and have yet to label the ES and the final leg up in the NQ.  I discuss each market as to where it stands in the larger picture.  I also update the Fibonacci extensions for both markets.

Tomorrow, pre-market the Empire state manufacturing survey is released at 8:30 AM that may cause a stronger move than what may be expected.  Also, two FED governors will be speaking both before the markets open.