Image Source: Unsplash

Another interesting day for the ES and NQ. With both markets initially continuing to decline. The NQ fell harder and deeper than the ES, but both appear to have finished the corrective moves at session lows. NVDA reported earnings and drove prices quickly higher and then diving lower (all within 2 minutes) before starting to rally without turning back. I have updated the labeling and the Fibonacci levels for what I continue to view as minute 5th waves (forming diagonal triangles) to complete Minor 5th waves, Intermediate C waves, and in turn Primary B waves.

Tomorrow pre-market @8:30 AM EST - Initial Jobless Claims, @9:45 AM EST - S&P Services PMI & S&P Manufacturing PMI, @10 AM EST Existing Home Sales.

Video Length: 00:27:45

More By This Author: