SP500 technical analysis and NASDAQ analysis for today April 10th using Elliott Wave Theory- The market bounced into our wave b of A target area. Can the bulls push higher?

SP500 Technical Analysis

SP500 technical analysis is telling us that the SP500 bounced into our wave b of A target area. We would expect a C wave down to the 4050 area from here to complete the A wave. From there we would look for a retest of 4100 and the depth of the next C wave would give us an idea of where we are.

However, If they can break over 4155 then it’s likely we make a new high in the 4195-4200 area.

NASDAQ Analysis

NASDAQ analysis is telling us that the NASDAQ also bounced iin it’s b wave of A. If they can follow through to the downside i would look for the 12740 area for the A wave then a bounce in B and a C wave down toward the 12550-12150 area.

However, they can try to make one more push to the 13500 area.