August 29, 2023

S&P 500 & NASDAQ 100 / Elliott Wave Update 8/29/2023 by Michael Filighera

Tuesday’s trade brought out the alternate count which suggests that the Minor wave 2 remains in progress. With minute A and B complete and minute C in progress today — I update the Fibonacci retracements and extensions to reflect the resistance areas that may complete Minor 2. I also discuss again the additional alternate count that I’ve been running on the SPX. It remains alive for now. Wednesday pre market @ 8:15 AM EDT ADP Employment data, @8:30 AM EDT Revised GDP data, and @ 10 AM EDT – Pending Home Sales.