SP500 technical analysis and NASDAQ analysis for today December 13th using Elliott Wave Theory- The market pushed higher into the top of wave 4 territory. The bears must act now or we will see another push higher for the B waves.

SP500 Technical Analysis

SP500 technical analysis is telling us that the SP500 has reached it’s wave 4 max area and needs to hold under 3995 in order to stay as a wave 4. If they push over 3995 then we are likely on our way toward 4020-50 with 4030 being our most likely target.

However, if they are able to hold under 3995 we could see a direct push to 3880 to complete wave 5 down.

NASDAQ Analysis

NASDAQ analysis is telling us that the NASDAQ has also reached it’s wave 4 maximum area. If it pushes up over 11865 then we could see a continuation up to 12000 or so before seeing a move down toward the 11100-11000 areas.

However if they hold under 11865 then we could see a move down to 11300 more directly.