SP500 technical analysis and NASDAQ analysis for today April 8th using Elliott Wave Theory- The market held the pivot again and the bulls pushed higher. Assuming they can hold support the bulls are in control

SP500 technical analysis is telling us that the bulls are in control as long as we are above 4478. Above that and we can continue to push higher in wave 5 of 1 up. However if 4478 breaks then it’s likely we push lower to test the pivot one more time.

NASDAQ analysis is telling us that the NQ is a little trickier. For now we are giving the bulls the benefit of the doubt as long as ES holds it’s pivot at 4478. If they do then we can push higher in wave 5 of 1 on the NQ however if we move back down the NQ will likely turn into a wave 2 or even lower.

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.