SP500 technical analysis and NASDAQ analysis for today May 12th using Elliott Wave Theory- The market pulled back and held support as expected then started to move higher. Is it look out above?

SP500 Technical Analysis

SP500 technical analysis is telling us that the SP500 the market pulled back and held support and is now setup to breakout to the upside. We would expect a move to 4170 or so then a pullback then a bigger breakout. If we get that we should be looking to the 4300+ area.

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 closed at the breakout level and now is poised for the push higher. If they do we should see a minimum of 13577 but more commonly 13700

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