SP500 technical analysis and NASDAQ analysis for today April 14th using Elliott Wave Theory- The market rallied as the bulls took control. How high can we go?
SP500 Technical Analysis
SP500 technical analysis is telling us that the SP500 rallied hard and pushed the SPX to a new high. We have a potential ending diagonal playing out on the SPX which would lead to a strong selloff. If that happens we would look for a move to the 4080 SPX area then down to the 4020-30 area
However, If they can break out over the a wave high at 4194 we could see 4220-40SPX.
NASDAQ Analysis
NASDAQ analysis is telling us that the NASDAQ is still playing by the rules better than ES. It’s possible we made a B wave high and need to pullback. If they do we would target the 12640 area.
However, if they can break over the 13248 area it we can see a rally to 13500+
