SP500 technical analysis and NASDAQ analysis for today April 5th using Elliott Wave Theory- The market continued it’s pullback but bounced a little at the close. Are the bears done?

SP500 Technical Analysis

SP500 technical analysis is telling us that the SP500 continued it’s pullback. We could see a B wave of A bounce to the 4130-45 area and then down from there. There is a chance we got all of B and will head lower more directly.

However, If they can break over 4150 then it’s likely we make a new high in the 4226 area.

NASDAQ Analysis

NASDAQ analysis is telling us that the NASDAQ continued it’s pullback as well and may see a bounce to the 13200 area for a B of A bounce. From there we would look for a selloff down into the 12700 area.

However, if they can’t break the 12991 area then they can push directly to the 13500 area next.