SP500 technical analysis for today January 5th 2022 using Elliott Wave Theory- The market gave us a 1,2,i,ii setup but is threatening to derail it in the overnights. 4764.50 ES is the key level on the SP500. If the bulls can hold above that and rally through 4811ES we have confirmation that we are in wave 3 and should target 4850-4900 ES area.

SP500 technical analysis using Elliott Wave Theory is also telling us that if they can’t hold 4764.50 support then we are likely looking lower and back in the bigger wave 4 again on the SP500.