SP500 technical analysis and NASDAQ analysis for today April 3rd using Elliott Wave Theory- The bulls continue launching higher as they push the market to the limit. Can the bears stop the push?

SP500 Technical Analysis

SP500 technical analysis is telling us that the SP500 is in the most extended point they can be to complete this wave 5 higher. The bears need to give us a pullback to the 4000-3911 area for a wave 2. If we don’t see them start to reverse we could see a bigger triangle playing out.

However, If they can’t get stop the bulls around 4120 SPX it’s likely off to the races to 4300

NASDAQ Analysis

NASDAQ analysis is telling us that the NASDAQ completed pretty solid fib pinball to the upside. We are now looking for a wave 2 pullback to hold support and start wave 3 higher. This would project to the 14000-15000 region on NQ.

However, If they push directly over 13350 it’s possible we are already in wave 3