SP500 technical analysis and NASDAQ analysis for today Sep 13th using Elliott Wave Theory- The market charges higher as we wait for the new CPI number. Will it bring back the bears or create a bull breakout?

SP500 Technical Analysis

SP500 technical analysis is telling us that the market pushed up over 4137 but hasn’t shown us a wave 4 yet so we may still have higher to go. We have now pushed high enough that we can consider the market taking a more direct route to the circle a or b above. This adds a large layer of complexity as it opens the door to multiple paths.

However, If they can’t hold over 3945 we likely visit 3450.

NASDAQ Analysis

NASDAQ analysis is telling us that the market pushed higher and is just a few points away from the 50% retrace which is a valid target. This means we have to consider the direct path to complete this move higher which adds a great deal of complexity as the video explains.

However, if they can’t hold over 12147 we likely visit 10500