NASDAQ and SP500 technical analysis for today February 9th using Elliott Wave Theory- The NASDAQ and SP500 both rallied on Tuesday into the close giving the bulls the ball. They are approaching some key levels on the charts that we go through in detail.

For the SP500 the key levels are 4550 and 4438 ES. This is the .764 retracement and Friday’s low.

For the NASDAQ they they are also at resistance but they have more room. The resistance on the NQ comes in at 14814-15048 and the key low is Friday’s low.

SP500 technical analysis using Elliott Wave Theory is also telling us that if the if the bulls can push through 4550 ES then they have a shot to push it to 4640 ES.