S&P 500 & NASDAQ 100 / Elliott Wave Daily Update 12/24/2024 by Michael Filighera

Rallies continued on Christmas Eve in the holiday shortened session. The most important fact from today is the SPX moved back and closed above 6000 finishing the day at 6040. That puts a more positive tone in place for year end expiration on 12/31/2024 - and that pin being the JPM collar at the 12/31 6055 call. I update the labeling in both markets and add Fibonacci levels for both the preferred and alternate counts.
I will be making updates while traveling - with the next daily update due on Thursday 12/26. I would like to wish all of you a safe and Happy Holiday! And say thank you for following my work this year.
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[@AsheekMaharaj]

Merry Christmas and thank you🌲🙏

[@tomreach3826]

hey man .. Merry Christmas for you and I wish you happy holidays

[@skschicago5027]

isn't a collar supposed to expire worthless?

[@FelixStepanie]

I really appreciate your efforts! I have a quick question: I have a SafePal wallet with USDT, and I have the seed phrase. (alarm fetch churn bridge exercise tape speak race clerk couch crater letter). How can I transfer them to Binance?

[@nickgrace5363]

Nice rally today. They make it to easy to hold a trade . I just made 1 scalp today for 20 seconds and that was all I did. I didn’t expect the rally to just keep going . Would have been a huge profitable day if I held for 1 hour or played power hour SPX last 15 minutes. 800% movement with SPX at 12;50 to 1:00 pm

[@skschicago5027]

in other words couldn't we be much lower than the collar?

[@THT1]

@skschicago5027 - yes of course we could be much lower than the collar -- but understanding how the options flows can go -- once the market cleared SPX 6000 it started to point towards the collar strike which is 6055 -- Please don't misunderstand me -- I'm not sayin that is what the market must do -- but if on the 12/31 expiration if the close is pinned at 6055 or just below it the call would be worthless --