SP500 technical analysis and NASDAQ analysis for today June 13th using Elliott Wave Theory- The market rockets into the it’s target area as we head into the big catalysts this week.

SP500 Technical Analysis

SP500 technical analysis is telling us that the SP500 broke out over Friday’s highs and continued to push toward our targets in the 4340-60 area. It broke the Aug highs on strong negative divergence which is usually a sign of a weakening market. They can still push higher here toward the 4360-4400 area as long as they are above 4319

However, if they fail at 4319 then 4308 it could be look out below.

NASDAQ Analysis

NASDAQ analysis is telling us that the NASDAQ rallied and broke out over Friday’s high and rallied into our 15000 target. We can still see them push to 15060-291 as long as they hold over 14865

However, a break below 14865 and then follow through below 14425 would be signal of a potential top.