Stock Market Analysis With The Elliott Wave Principle -Dow Jones, S&P 500, Russell 2000, Nasdaq and FX. All charts and commentary on this site are strictly the opinions of the author(s) and are for recreational purposes only. In no way should this be construed as trading advice or a recommendation for investing. See disclaimer at the bottom of the page.
Friday, August 2, 2024
8/2/2024 - NQ Update
I didn't count the squiggles for wave 1 of (3), but clearly it wasn't done working it's way down yet along with the alternate bearish count. I made a slight adjustment to the WXY alternate count.
Zoomed in there is a triangle that formed all day, that may be indicative of a wave 4 to complete wave 1 of (2) or wave c of (Y).
Zoomed in view of the triangle. So let's see what the market brings next week/overnight Sunday. Will there be a flush to 18300s to complete the head and shoulders pattern near a fairly strong support level?