SP500 technical analysis and NASDAQ analysis for today April 12th using Elliott Wave Theory- The market chopped but closed flat. Did they tell us anything in that chop?

SP500 Technical Analysis

SP500 technical analysis is telling us that the SP500 pushed slightly higher in the b wave into the end of the day before the bears sold a bit at the close. We would expect and look for follow through from the bears given all of the negative divergence on the MACD. If they do follow through we are looking for the 4050-60 area.

However, If they can break over 4170 then it’s likely we make a new high in the 4195-4200 area.

NASDAQ Analysis

NASDAQ analysis is telling us that the NASDAQ struggled today and has a much more corrective structure. This means it’s more likely we head lower in a pullback toward the 12740 area before higher.

However, they can try to make one more push to the 13400-500 area.