SP500 technical analysis and NASDAQ analysis for today June 29th using Elliott Wave Theory- A choppy day leads to a bull close. Who is in control?

SP500 Technical Analysis

After a choppy day we do have a couple possibilities. I am looking for either a C wave down or a wave 3 down toward the 4260-4300 area. From there we will have to see what kind of reaction we get. If it’s impulsive we are likely on to new highs. If it’s corrective we look lower.

However, if they push directly over the 4420 area it’s more likely they are ready for a push over the June highs

NASDAQ Analysis

NASDAQ analysis is telling us that the NASDAQ chopped to the upside and looks like it needs a C wave down to the the 14600-700 area in either a wave 3 or C. Then we will look at the type of bounce we get to determine the count.

However, a direct move over the 15330 area it would like a more direct move over the June highs.