SP500 technical analysis and NASDAQ analysis for today December 8th using Elliott Wave Theory- The market pushed lower in the overnights and looks to have completed our wave 4 up. Can the bears follow through?

SP500 Technical Analysis

SP500 technical analysis is telling us that the marketpushed lower in the overnights and looks to have finished wave 3 and gave us a choppy wave 4 today before moving lower in the after hours session. If they break down below 3913 then we likely see a move to 3880 before we see a bounce.

However, if they are able to hold 3913 we could see a bounce to 3971 before a drop.

NASDAQ Analysis

NASDAQ analysis is telling us that the NASDAQ also pushed lower before a choppy bounce higher in wave 4 and now looks to take out the 11416 level and we should see a drop to 11300. From there we would look for a rally in wave b.

However if they hold 11416 then a move to 11649 before we see lower is possible.