SP500 technical analysis and NASDAQ technical analysis for today March 9th using Elliott Wave Theory- The markets challenged the lows as expected in the overnights then got a 3 wave rally higher before selling off into the close. This points to a new low to complete wave 4 on the SP500 and NASAQ

SP500 technical analysis is showing that they have started an impulsive structure down for wave 5 of C and should target the 4077-4000 ES region on the SP500. We should see a push down to the 4125 area then we will see if they want to break the lows directly.

NASDAQ technical analysis is showing an expected move down that would break the lows and setup a conclusion for the bigger wave 4. We should be targeting the 12816-12591 region for the low on the

NASDAQ. SP500 technical analysis and NASDAQ technical analysis using Elliott Wave Theory is also telling us that the best chance for the bulls is to get a new low to build off of. Otherwise they would have to trace out a leading diagonal which we don’t trust.