Nasdaq 100 & S&P 500 Elliott Wave Update - Monday, Dec 9

Cutout paper illustration representing scheme and Stocks inscription

Image Source: Pexels

Markets had a fairly strong Globex session on Sunday. The NQ made an additional high which I have noted as the completion point for the minuette 3rd wave. The ES did not leave in place last week high as the completion point for its 3rd wave. From those highs, both markets are within smaller minuette 4th waves with both reaching initial support levels at the Fibonacci .236 level. I discuss the possibility of a more "detailed" A-B-C zigzag structure to form the 4th waves and therefore I'm leaving open that tomorrow's trade could be more inside today's ranges. Ultimately I'm still looking for additional new ATHs before the Minor 5th and Intermediate 3rd waves are complete.

Video Length: 00:15:52


More By This Author:

Weekly Technical Update: S&P 500 - Sunday, Dec. 8
Weekly Technical Update: Nasdaq 100 - Sunday, Dec. 8
Nasdaq 100 & S&P 500 Elliott Wave Update - Thursday, Dec 5

Disclaimer: 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 ...

more
How did you like this article? Let us know so we can better customize your reading experience.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.
Or Sign in with