• Home
  • /
  • S&P 500 & NASDAQ 100 / Elliott Wave Update 9/19/2022 by Michael Filighera

S&P 500 & NASDAQ 100 / Elliott Wave Update 9/19/2022 by Michael Filighera

Monday’s trade was for the most part in line with expectations for the pre Fed meeting days. Initially off the opening there were several decent moves that produced profitable moves – however, there were more scalps than small swing trades. The S&P did move down to a slight new low over Friday during Globex at 3846. I have marked this as the completion point for Minor wave 1 of Intermediate wave 3. The NQ did not push to a new low, but remained within parameters for a Minor wave 2 bounce.

I discuss what to expect for tomorrow with parameters for the continuation of Minor 2nd waves. Once complete expectations would be for the Minor wave 3 of Intermediate 3 to kick in and when it does the market should once again begin to drop with “purpose.”


Tags


You may also like

{"email":"Email address invalid","url":"Website address invalid","required":"Required field missing"}

What is your biggest Trade Killer?

Use the Trader Test to find out:

Commodity Futures Trading Commission: Futures and Options trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don't trade with money you can't afford to lose. This is neither a solicitation nor an offer to Buy/Sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site. The past performance of any trading system or methodology is not necessarily indicative of future results.

CFTC RULE 4.41 - HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.

Content on this site is for educational and entertainment purposes only. Nothing on this site should be viewed as trading advice.