SP500 technical analysis and NASDAQ analysis for today April 17th using Elliott Wave Theory- The market popped, dropped and then tried to rally into the close. Are the bulls pushing higher?
SP500 Technical Analysis
SP500 technical analysis is telling us that the SP500 popped early before hinting at a selloff but ultimately holding support and pushing up into the close. Now we need to see if the bulls can take out strong support at 4210 ES. If they do we are on our way to 4228 and as long as we are above 4085 we are bullish.
However, If they can break below 4084 then we likely see the 3950 area.
NASDAQ Analysis
NASDAQ analysis is telling us that the NASDAQ is still playing by the rules better than ES. as long as we are below the 13248 area we can expect a push down to 12840.
However, if they can break over the 13248 area it we can see a rally to 13500+
