SP500 technical analysis and NASDAQ analysis for today October 11th using Elliott Wave Theory- The market traded lower as NQ broke the low. Can we find a rally or is it the low down for this market?

SP500 Technical Analysis

SP500 technical analysis is telling us that the market continued lower Monday and tested last weeks low. They have held for now but if they break it we should see the 3250-3450 area directly. If they are able to find a rally it will likely be a corrective rally headed to the 4200+ range before a C wave down.

However, if they can find the exact right low they can try for the bullish run again.

NASDAQ Analysis

NASDAQ analysis is telling us that the the market broke last weeks low invalidating the bullish count and giving us an indication we are looking directly lower toward the 9500-10500 region.

However, if they can hold and start a rally we would look for a move over 11306 to give us an indication we are starting C up.