Very difficult markets on Monday in attempting to update an EW count. I have left the “alternate” counts in place as presented over the weekend in the Podcast. The ES, however, did move up to an additional new high which on that basis alone would move the alternate over to Preferred, which I have stated. The challenge remains in what the structure is moving forward. In the ES it may be a diagonal 5th wave up – in the NQ it may also be a diagonal, but the NQ did not move to new highs today — leaving much more open as “to be determined”. For now, I’m continuing to look for continued upside before the current rallies are complete.Video Length: 00:20:59More By This Author:Weekly Technical Update: Nasdaq 100 – Sunday, July 14
Weekly Technical Update: S&P 500 – Sunday, July 14
Nasdaq 100 & S&P 500 Elliott Wave Update – Thursday, July 11
