SP500 technical analysis and NASDAQ analysis for today November 14th using Elliott Wave Theory- The market continued to extend higher on Friday and could be ready for a pullback. Will the bulls let it happen?

SP500 Technical Analysis

SP500 technical analysis is telling us that extended up toward the 1.618 fib as expected. From here it is reasonable to see a pullback down toward the 3915 area. From there we would look for a wave 5 of 3 toward 4080 to complete wave 3 of C

However, a break below the 3915 area would make us look at a wave 2 of C followed by a 3,4,5 that would target the 4300 area.

NASDAQ Analysis

NASDAQ analysis is telling us that the NASDAQ extended over the 1.618 fib and we would now expect to see a pullback into the 11563 area. From there we would expect antoher push up toward the 12020 area for wave V of 3.

However if they fall below 11563 we could see a move lower in wave 2 of C.