SP500 technical analysis and NASDAQ analysis for today June 27th using Elliott Wave Theory- The bears breakthrough support. Should the bulls be worried?

SP500 Technical Analysis

SP500 technical analysis is telling us that the SP500 broke through the 4337 pivot area that was acting support and now targets the 4300 region in a more direct manner. Assuming they hit at least the 4318 SPX area we would be bearish to 4237 AS LONG AS we remain below 4348.

However, if they If they push back over 4358 then it we would look for the abc for wave 2 to playout to the 4390-4420 area.

NASDAQ Analysis

NASDAQ analysis is telling us that the NASDAQ sold down to the bottom of the pivot. Assuming we follow through to at least 14729 we are bearish to 14220 as long as we stay below 14924.

However, if they push back over 14985 we would look for an ABC back to the 15261-326 area.