Nasdaq 100 & S&P 500 Elliott Wave Update - Monday, June 24

Chart, Trading, Forex, Analysis, Tablet, Pc

Image Source: Pixabay

Mixed markets on Monday - ES and NQ lower with the DJI and RTY higher. Pulling the NQ lower was the continued correction within NVDA, SMCI and AVGO. I have made a small adjustment to the labeling as I discussed within the Podcasts presented on Saturday. Both moves lower continue to present a more challenging picture, but I feel that both remain corrective and not impulsive (5 waves down) that I would be expecting after the completion of Minor 3rd waves. Therefore Minor 3rd waves remain within the final legs for now. I update Fibonacci support levels to complete the smaller 4th waves in progress now. This then leaves the expectation for an additional small 5th wave rallies to complete the sequences up to and including the Minor 3rd waves.

Video Length: 00:26:23

More By This Author:

Weekly Technical Update: Nasdaq 100 - Sunday, June 23
Weekly Technical Update: S&P 500 - Sunday, June 23
Nasdaq 100 & S&P 500 Elliott Wave Update - Thursday, June 20

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 ...

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