SP500 technical analysis and NASDAQ technical analysis for today March 14th using Elliott Wave Theory- The market jumped at the open only to sell off the entire rest of the day. However, this did give us 2 pretty clear patterns as well as an alternate.

SP500 technical analysis is now showing a primary path for both the bulls and the bears. For the bears they want a push up to 4285 before pushing lower to complete the bigger wave 4 in the 4025-50 area. For the bulls they want to find a low above the 3/7 low and push over the micro and minor pivots on the SP500

NASDAQ technical analysis is showing a similar setup although it’s leading diagonal isn’t as clean as the SP500. The bears are looking for a push up to around 13335 area before a strong move lower to complete the bigger wave 4. The bulls want to find a low over the 3/7 low and push higher taking out the micro and minor pivots on the NASDAQ

SP500 technical analysis and NASDAQ technical analysis using Elliott Wave Theory is also telling us that if they move lower but don’t take out the low then can’t take out Friday’s high we could be trading in a triangle.