SP500 technical analysis and NASDAQ analysis for today April 1st using Elliott Wave Theory- The bears finally joined the party pushing the markets down over 1% and breaking the .236 retrace which is a good sign that the pullback has started.

SP500 technical analysis is telling us that the market has likely completed its A wave down and we should now see a B wave bounce up to 4579-4607 ES. If they push over 4607 the bulls can run it. However if the B wave resistance holds we look for C down to 4369-4483 on the SP500

NASDAQ analysis is telling us that its pullback is likely underway. It’s looking for a B wave bounce to hold 15068-15180 resistance. Over 15180 and the bulls can run. If they hold the B wave area we look for C down to 14370-14583.

SP500 technical analysis and NASDAQ analysis using Elliott Wave Theory is also telling us that if the pivots can’t hold that is an indication of a failed move higher and we could see lower lows pretty quickly.