A pretty narrow range today ahead of Netflix and Tesla earnings after the bell in the S&P 500 today. There are now five waves up from the July 17th low on the 240-minute chart of S&P 500 futures which in turn could be five up from the July 10th low which in itself could complete the structure up from the late May low. I think the structure may be complete on even a larger scale but one thing at a time. Note the gold 5 on the last candle, which is an exhaustion signal from the Wave 59 9-5 study. Also have negative divergence on the momentum indicator at the bottom of the chart.
I think it funny that NQ made a new high for the day on the news that Apple was making a ChatGPT competitor and has been falling since. Now testing minor support at 15939. Looks soft. We will see. Chart is 15-minute NQ.
Nice to see Euro slipping lower. I’d love to pound the table for a reversal but really need Euro under 1.1135 to claim a reversal is taking place.