Nasdaq 100 & S&P 500 Elliott Wave Update

Nasdaq 100 & S&P 500 Elliott Wave Update – Thursday, Aug 15

Aug 15, 2024Jeremy ParkinsonFinance, No picture0

Image Source: UnsplashAnother day another 2% move in the indexes. I explain why within the NQ and ES in tonight’s update — it’s all about flows and when strong gamma resistance gets taken out — it forces the flow to go against the positions and thus produces an additional pressure directionally. That happened in the NQ today before the NY opening and continued to gain upside steam as the “risk on” trades and gamma adjustments were made. Both the NQ and ES broke above resistance levels but remain within parameters for the current wave count and labeling. I do update both the EW labeling and the Fibonacci resistance levels. I also again discuss the alternate count in more detail as well as “trading rules.”Video Length: 00:46:42More By This Author:Nasdaq 100 & S&P 500 Elliott Wave Update – Wednesday, Aug 14
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