SP500 technical analysis and NASDAQ analysis for today April 28th using Elliott Wave Theory- The market rips higher as we end April. Is it sell in May and go away?

SP500 Technical Analysis

SP500 technical analysis is telling us that the SP500 ripped up off of yesterday’s low into the 4160 area. It’s now at the edge of resistance. If it can push directly through 4200 we would expect a squeeze up to the 4300 area more directly.

However, if it rejects here or at 4200 we could see a pullback and as long as it holds 4096 we could be setting up for a breakout.

NASDAQ Analysis

NASDAQ analysis is telling us that the NASDAQ ripped higher and took out several key resistances as it is pressing on it’s wave 1 high. If it can push over that and take out 13465 then we can see a direct move to the 13715 area.

However, if the bears can break the 12926 area and push down we could see a move to the 12500 area more directly