Image Source: PexelsBoth the ES and the NQ hit Fibonacci resistance, and both rejected those levels and declined strongly off of them. GOOGL and TSLA reported after the close today and while both “beat” estimates, it wasn’t enough to offset the selling that eventually knock both stocks down. TSLA getting hit harder after earnings. This in turn has pulled both the futures markets gapping lower on the Globex opening. I discuss the strong potential that both markets have completed the small countertrend rallies, and the next moves would be expected to get the markets closer to their respective Minor 4 targets. In other words, the decline could begin to pick up more speed.Video Length: 00:24:31More By This Author:Nasdaq 100 & S&P 500 Elliott Wave Update – Monday, July 22Weekly Technical Update: Nasdaq 100 – Sunday, July 21Weekly Technical Update: S&P 500 – Sunday, July 21
