SP500 technical analysis and NASDAQ analysis for today June 26th using Elliott Wave Theory- The market sells into support at the close. Can the bulls hold?

SP500 Technical Analysis

SP500 technical analysis is telling us that the SP500 sold down into support on Friday closing just above the pivot. Now the question is can the bears push through directly or do we need to see a bounce first? If the bears can break 4337 then we can expect to see a move to the 4298 area before a bounce.

However, if they can’t break support we would look for an abc up to the 4395-4425 SPX area.

NASDAQ Analysis

NASDAQ analysis is telling us that the NASDAQ sold down to support and gave itself a 1,2,i,ii setup to catch up to the SPX. Now if we see the NQ break down below 14849 then we would expect a move to the 14609 area.

However, if they hold support we can see a bounce to the 15261-15326 area.