SP500 technical analysis and NASDAQ analysis for today March 1st 2023 using Elliott Wave Theory- The market fails to move up and sells off into the close leaving us in no mans land. Now we must wait for clarity.

SP500 Technical Analysis

SP500 technical analysis is telling us that the SP500 tried to push higher but failed and sold off into the close. This leaves us with a few paths to track but no clear leader. We are looking at two potential bounce paths that are looking at the 4100 or 4180 areas.

However if they break Friday’s low we could see 3800 fast.

NASDAQ Analysis

NASDAQ analysis is telling us that the NASDAQ failed to move higher and left us in no mans land. We have to potential bounces targeting the 12600 and 12800 areas depending on which bounce we are in.

However, if they break Friday’s low we could see 11200 quick.