SP500 technical analysis and NASDAQ analysis for today June 15th using Elliott Wave Theory- The market chops a bit on FED day but the bulls remain in control. Can they be stopped?

SP500 Technical Analysis

SP500 technical analysis is telling us that the SP500 pushed higher then held support then pushed back higher and now has a potential 1,2 setup pointing toward 4420-40. As long as the bulls are over 4336 they can continue to push but in the macro count there are enough waves in place.

However, if the bears can push through 4336 and then 4300 it may be signal that we have topped in the move up.

NASDAQ Analysis

NASDAQ analysis is telling us that the NASDAQ continues it’s push higher. They pushed up held support and then have a 1,2 setup for a potential push towards 15300-400 area. As long as they are over 14427 they can push but the macro count has enough waves in place.

However, a break below 14927 and then follow through below 14865 would be signal of a potential top.