August 10, 2023

S&P 500 & NASDAQ 100 / Elliott Wave Update 8/10/2023 by Michael Filighera

Today I’m showing the preferred count on the S&P and the alternate count on the NASDAQ. Both remain active with solid evidence on either count leans both ways. In any case, I’ve walked through the counts — the good news is that the last couple of days trading will seem much clearer. The CPI did produce a solid boost but it looks to have completed an expanding triangle wave 4 in the ES and in the NQ it is part of a double ABC also for wave 4 in the NQ with both markets selling off hard right after making today’s highs. Friday pre – market @8:30 AM EDT PPI data will be released. @10 AM Consumer Sentiment.