SP500 technical analysis and NASDAQ analysis for today October 24th using Elliott Wave Theory- The market shoots higher Friday and takes out the October highs over the weekend. This means we should be looking for more bullish behavior moving forward.

SP500 Technical Analysis

SP500 technical analysis is telling us that the market looks to be starting the C wave higher with a target of 3917. We would look for the market to move to that level before seeing a nice pullback and then another C wave higher from there. If they push toward 3875 then pullback toward 3777 and hold above it and take out the 3875 area high it’s very bullish.

However, if they break can’t break over 3838 and fail back below 3733 then we should be looking lower to 3250-3450

NASDAQ Analysis

NASDAQ analysis is telling us that the NASDAQ is moving higher in what we expect to be a C wave toward 11879. If we see that we should expect a pullback then another push higher toward 12823. If they push up toward 11691 and pullback and hold over 11431 and take out the 11691 area high it’s very bullish.

However if they hold under 11736 and fail below 11211 then we should be looking at the 9000-9500 area next.