Image Source: PexelsI have flipped the preferred view to alternate and the alternate to preferred. Both the ES and NQ have exceeded the 62% Fibonacci resistance for a minute ‘b’ wave within an ongoing Minor 4th wave. Also the markets have shifted again from a “negative” gamma situation to a “positive” gamma situation. This produces a trading atmosphere where the volatility trade is again in control and also being in a “positive” gamma situation does add support to the markets having completed the Minor 4th wave corrections with Minor 5th waves in progress now. The internal counts also are more in line with the switch as well.Video Length: 00:24:00More By This Author:Weekly Technical Update: S&P 500 – Sunday, Aug. 18
Weekly Technical Update: Nasdaq 100 – Sunday, Aug. 18
Nasdaq 100 & S&P 500 Elliott Wave Update – Thursday, Aug 15
