SP500 technical analysis and NASDAQ technical analysis for today March 11th using Elliott Wave Theory-The market continues to whip traders a round and leave them in it’s wake. In times like this is important to look at the bigger picture and understand if the market is doing anything out of the ordinary.

SP500 technical analysis is very messy we have invalidation in both directions which means the structure isn’t giving us any information. We expect higher but not with conviction. If they move higher on the SP500 I would look for the 4420-4450 region. However if they break yesterday’s low we can head down more directly.

NASDAQ technical analysis is in the same boat as the SP500. We expect higher but the invalidations have us sitting on our hands and waiting for more information. The NASDAQ targets the 14475-14540 range if they do move higher

SP500 technical analysis and NASDAQ technical analysis using Elliott Wave Theory is also telling us that if they want to move it lower on both charts it will likely be an ABC diagonal for wave 5.