SP500 technical analysis and NASDAQ analysis for today December 9th using Elliott Wave Theory- The market held yesterday’s low and pushed higher toward our bigger wave 4 targets. Are they done pushing?

SP500 Technical Analysis

SP500 technical analysis is telling us that the market held it’s low and pushed up toward the 3971 area we’ve been talking about for wave 4. From here we could be seeing a move down to 3880. We would want them to hold under 3980 and push below 3937 to indicate a drop to 3880.

However, if they are able to push over 3980 we would look for a push up toward 3995-4015 in a B wave before dropping.

NASDAQ Analysis

NASDAQ analysis is telling us that the NASDAQ also held it’s low and pushed higher. From here we would look for a drop to the 11300 area to complete wave 5. We want them to hold under 11710 and break below 11475 to indicate this.

However if they push over 11710 directly we are more likely headed to the 11800 area for the B wave before dropping.