Nasdaq 100 & S&P 500 Elliott Wave Update - Wednesday, Aug 7

Technical Analyst & Trader • Aug 7, 2024 at 8:45 PM EDT

Very interesting day complete with another bounding higher rally that failed and was followed by a complete sell off and that was in the ES and NQ.

Cutout paper illustration representing scheme and Stocks inscription

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Very interesting day complete with another bounding higher rally that failed and was followed by a complete sell off and that was in the ES and NQ. I am though able to put some labeling on the charts and added the Fibonacci support for minuet 5 of minute C and in turn Minor 4. I go into some detail detailing what created the demise of the morning rally and added fuel to the "fire" on the decline. I also again include an alternate count and I also again make reference to the Primary 4th wave scenario. One day at a time.

Video Length: 00:32:43

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