SP500 technical analysis and NASDAQ analysis for today May 30th using Elliott Wave Theory- The bulls rocket higher into the weekend. How high can they take it?

SP500 Technical Analysis

SP500 technical analysis is telling us that the SP500 blew through some key resistance and is now at a key area. If we see a corrective pullback we should see 4340 but if they extend directly we can see around 4310-20.

However, we are in a precarious spot and any 5 wave move down should be treated as a big warning

NASDAQ Analysis

NASDAQ analysis is telling us that the NASDAQ blew through several resistance levels and is now poised to give us a 4,5 extension into the 14700-800 area to complete the move up. If so we should start to look for a sharp decline after that.

However, we are in a precarious spot and any 5 wave structure to the downside should be a major warning