SP500 technical analysis and NASDAQ analysis for today May 11th using Elliott Wave Theory- The market pushed higher and pulled back as expected an the bulls break through?

SP500 Technical Analysis

SP500 technical analysis is telling us that the SP500 the market held wave 4 support before launching higher to give us a 5th wave higher and then pulled back in wave b. Now we are looking at 1 of C potentially being done and a move down in 2 and breakout in 3 of C

However, if the bears can take it down we can see the 4100-4088 area.

NASDAQ Analysis

NASDAQ analysis is telling us that the NASDAQ continues to play by the rules better than the ES. It is in support for a 3 of 3 breakout and needs a move over 13453 to confirm

However, if the bears can break the 12925 Then 12800area and push down we could see a move to the 12500 area more directly