Image Source: PexelsAll seemed to be on track until after the close and MSFT’s earnings. While the earnings beat estimates (not by much), the stock took a hit dropping below 400. AMD also reported and managed to pop $8 – so there was some juggling as to direction. I updated the EW labeling, which I discussed yesterday and now put into place today — overall both markets are continuing to progress within Minor 4th waves. I’ve extended the minuet 5th waves and added additional Fib levels for possible lows and completion points for minute ‘a’ waves. Based on this then I am still looking for a “b” wave rally and lay out the Fibonacci retracement levels as resistance.Video Length: 00:22:52More By This Author:Nasdaq 100 & S&P 500 Elliott Wave Update – Monday, July 29
Weekly Technical Update: S&P 500 – Sunday, July 28
Weekly Technical Update: Nasdaq 100 – Sunday, July 28
