SP500 technical analysis and NASDAQ analysis for today March 28th using Elliott Wave Theory- The bulls closed the week at the highs as expected and now we look forward to a new week and a potential pullback.

SP500 technical analysis is telling us that the market has decided to push higher and needs to find a top and start a pullback to test the pivot. The first key level to hit on the ES is 4470. This is the .236 and would be an indication that the pullback has begun. After that they would need to hold 4369-4427 ES on the SP500.

NASDAQ analysis Is telling us that they also extended in wave 3 and need to pullback and test the pivot. We would like to see them reach the 14514 level to signify the pullback has begun. Once they start the pullback they would look to hold the .382 the .5 or the bottom of the pivot in order to keep the bull move intact.

SP500 technical analysis and NASDAQ analysis using Elliott Wave Theory is also telling us that if the pivots can’t hold that is an indication of a failed move higher and we could see lower lows pretty quickly.