SP500 technical analysis and NASDAQ analysis for today March 21st 2023 using Elliott Wave Theory- The market rallied toward our targets. Now can the bulls follow through?

SP500 Technical Analysis

SP500 technical analysis is telling us that the SP500 gave us a rally toward our wave 5 target. Now we would look for follow through to the 4030 area to complete the move up. From there we should look for a strong selloff in wave 2 to the downside.

However, we could see a c of B wave lower into our support area before seeing a move toward 4030

NASDAQ Analysis

NASDAQ analysis is telling us that the NASDAQ has held up well in the face of these selloffs and sits in a bullish posture. We are looking for a rally to the 13050 region before the next pullback. Before ultimately looking to the 13400-600 region

However, If they break last weeks low it’s very bearish.