SP500 technical analysis and NASDAQ analysis for today October 25th using Elliott Wave Theory- The market continues to grind higher and has reached a key resistance area where the bulls need to break through.

SP500 Technical Analysis

SP500 technical analysis is telling us that the market was able to push over the 3777 level and took out the 3800 level. Now it’s at a key resistance area at 3820-3838. If it pushes through that we would be looking for 3917 as our primary path. If they push to 3875 see a small pullback and a move back over 3875 we need to start paying attention to the bulls.

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 grinding over it’s October highs and needs to continue pushing through this big resistance region. we would look for them to break over 11736 on their way to the 11900 region.

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