NASDAQ and SP500 Technical Analysis 1-13-23 (Elliott Wave Theory)

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NASDAQ and SP500 Technical Analysis 1-13-23 (Elliott Wave Theory)

by jcgabbard
January 13, 2023
0

SP500 technical analysis and NASDAQ analysis for today January 13th using Elliott Wave Theory- After the CPI dud the market pushed higher but couldn’t break out. Is it time for a bloody Friday the 13th?

SP500 Technical Analysis

SP500 technical analysis is telling us that the SP500 pushed up but couldn’t break out in the more bullish count and appears to be set for a downside move. We are looking to hold support at around 3860-50 ES and rally back over the wave 1 high to indicate we are in wave 3 higher and an ultimate move to 4300.

However, a break of support and we may be headed to 3600 in a wave C of B

NASDAQ Analysis

NASDAQ analysis is telling us that the NASDAQ is a little different. We are looking for a pullback to hold the 11000 area and a move back over the wave 1 high to indicate a move to the 12700-13000 area.

However a break of the 11000 support area would point us down in the C wave to 10000

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My name is Jacob Gabbard. I'm an avid investor a father and a husband. I have been investing for over 20 years after my dad got me into it. I've been hooked ever since. I started this site to help new traders understand the Elliott Wave Theory methodology as well as teach people solid investing strategies so they can build their own wealth. I also love to teach and will be launching several programs to teach investing as well as Elliott Wave Theory to anyone that want's to learn. I release daily market updates on my YouTube Channel Invest With Jacob. I hope to work with you directly on your investing journey.