SP500 technical analysis and NASDAQ analysis for today December 2nd using Elliott Wave Theory- The market chops all day as it decides it’s next path.

SP500 Technical Analysis

SP500 technical analysis is telling us that the market basically took the day off and chopped in a pretty tight range for most of the day. A break over 4092 would indicate the push toward the 4130-35 area and the 50 week moving avg.

However, a break below 4040 would indicate a more direct move lower.

NASDAQ Analysis

NASDAQ analysis is telling us that the NASDAQ chopped in a tight range most of the day. A break over 12105 would indicate- likely follow through to the 12200-300 area.

However if they break directly below 11822 it would indicate a more direct move lower.