SP500 technical analysis and NASDAQ analysis for today May 1st using Elliott Wave Theory- The market continued to push up to resistance. Can the bulls breakthrough?

SP500 Technical Analysis

SP500 technical analysis is telling us that the SP500 has pushed back up to major resistance. this is a typical wave 1 target and we would look for a wave 2 pullback from here. If they hold support a breakout in wave 3 is likely. If they can push directly over 4207 then we can squeeze to 4253

However, if the bears can break 4094 it’s a warning.

NASDAQ Analysis

NASDAQ analysis is telling us that the NASDAQ pushed up to it’s resistance as well. We would like to see a wave 2 pullback from here and then a breakout in 3. If they push directly over 13481 we can see a squeeze to the 13730 area.

However, if the bears can break the 12925 area and push down we could see a move to the 12500 area more directly