SP500 technical analysis and NASDAQ analysis for today November 15th using Elliott Wave Theory- The bulls finished the push up to the target area today before starting to sell off into the close. Is is now pullback time?

SP500 Technical Analysis

SP500 technical analysis is telling us that extended up to the 1.618 fib and started selling from there. 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 closer to the 2.0 fib and we should expect to see a pullback into the 11563-11422 area. From there we would expect another push up toward the 12020 area for wave V of 3

. However if they fall below 11422we could see a move lower in wave 2 of C.