SP500 technical analysis and NASDAQ analysis for today June 9th using Elliott Wave Theory- The market holds support and is ready to push again. Can the bulls breakthrough?
SP500 Technical Analysis
SP500 technical analysis is telling us that the SP500 held support and gave a 5 wave move off of the lows. They have a breakout setup to 4330 but may need to test 4275-80 first.
However, if they fail to break out the bears can take the market down to 4257 and if they break 4253 much lower.
NASDAQ Analysis
NASDAQ analysis is telling us that the NASDAQ Held support and pressed higher. It appears to be completing a 5 wave move so after a small pullback we could see a breakout targeting 14950.
However, a break below 13845 is a warning to the bulls that the move up may be out of gas.
