SP500 technical analysis for today January 31st using Elliott Wave Theory- The market rallied higher on Friday making it less likely we move directly down to complete wave 4. We are tracking an ABC move higher toward 4500 ES if they can break through 4440 ES on the SP500.

SP500 technical analysis using Elliott Wave Theory is also telling us that if they can’t break 4440 then it’s more likely we are in the triangle and headed down toward 4300 again and will be whipping around for a few more days on the SP500. If this market decides to take off and takes out 4550 lookout above.