We are going to look at the full body of work for the tech sector. We'll start with the Nasdaq micro count 1. This Nasdaq E-mini futures chart suggests a 5 wave diagonal wave 1 completion followed by a wave 2 retracement in the form of a zigzag. Evidence supporting this count is a deep retracement of wave 1 that has already met the retracement guideline of the previous 4th … [Read more...] about What’s Up with the Nasdaq?
Impulsive Extension
S&P 500 Wave 3 Still in Progress
The primary count remains that the index is retracing for yet a second extension. Keep in mind this is how Elliott cautions us to count as we do not want to miss an explosive move. The guideline is for price to slightly screed the previous fourth wave which isn’t far off. Keep in mind, this is only a guideline and not a requirement either way. S&P 500 Primary Micro Count … [Read more...] about S&P 500 Wave 3 Still in Progress