SP500 technical analysis and NASDAQ technical analysis for today March 17th using Elliott Wave Theory- The bulls kept the party going on FED day jumping the market almost 100 points. This gives us some clear paths to track.

SP500 technical analysis is telling us that the bulls have completed either wave 1 of 3 or wave 1 and 2 of 3 and are in wave 3 of 3 now. A direct move higher over 4367 would confirm this. However if they fail and breakdown they would look for a pullback in wave 2 of 3 to the support box on the SP500.

NASDAQ technical analysis is a little different as they have already broken the low. They have built a 5 wave structure that would be wave 1 of 1 of 5 up. If that is the case we should see a pullback to the support area for wave 2 of 1 of 5. However if they push higher we would look for them to be building wave 3 of 1 of 5 up at that time.

SP500 technical analysis and NASDAQ technical analysis using Elliott Wave Theory is also telling us that the bears want a push to 4441 which is the 1.0 extension of A and B on the SP500 and then a push lower to new lows to end wave 4.