SP500 technical analysis and NASDAQ analysis for today April 18th using Elliott Wave Theory- The market popped then pulled back then traded flat. Can the earnings catalyst break us out?

SP500 Technical Analysis

SP500 technical analysis is telling us that the SP500 pushed up and tested 4200 before coming back to trade basically flat. Until they break out of the range expect more chop. Overall in the big picture I go over why we are looking for 4300 and what that means for the overall market and our targets.

For the bears If they can break below 4084 then we likely see the 3950 area.

NASDAQ Analysis

NASDAQ analysis is telling us that the NASDAQ is still playing by the rules better than ES. In the big picture we were looking for 13-14000 off of the Oct lows and we are here. Now it’s a matter of how high they want to push.

However, If they don’t push higher we would look for at the 12840 area for a pullback.