SP500 technical analysis for today November 11th 2021 using Elliott Wave Theory- The market followed through on it’s pullback to our first target at 4625 ES. While this may not be the bottom we did buy our first 1/2 position as we are targeting 4800 ES and don’t want to miss the entry. We are watching 2 main patterns.

The first has the SP500 bounce in a B wave to 4678 then give us a larger C wave to 4575 ES where we would look to buy again. The second is that we have bottomed and are starting the rally to 4800 ES. A break over 4680 ES on the SP500 would likely confirm this.

SP500 technical analysis using Elliott Wave Theory is telling us that if they break straight down from here we would look for 4615 ES as the low before a bounce.