SP500 technical analysis and NASDAQ analysis for today July 26th using Elliott Wave Theory- The bulls were unable to escape the grip of wave 4 so we may need to see a lower low in wave 4 to reset before moving higher.

SP500 Technical Analysis

SP500 technical analysis is telling us that the bulls were sloppy up off the lows and now may need to pullback and get a lower wave 4 low. They need to hold the 3914 area and push higher from there if they want to keep the path to 4030-4100 alive

However, if the market can’t hold 3909.50 we may have topped in the A wave of B.

NASDAQ Analysis

NASDAQ analysis is telling us that they still have a little room below to the .382 and may need to pullback to there before moving higher. It is possible they hold the current low but the action isn’t ideal.

However, they need to hold the 12212 area or they may have topped in A of B.