SP500 technical analysis and NASDAQ analysis for today July 10th using Elliott Wave Theory- The market bounces then sells off into the close. Is it time to be bearish?

SP500 Technical Analysis

SP500 Technical analysis is telling us that after the selling the market gave a bounce. We do have a few possibilities here. The bulls want to hold 4385 SPX or the June lows. If they can we can see a bounce to the 4500+SPX area.

However, if they break 4385 and the June lows it should be a potential warning to the bulls.

NASDAQ Analysis

NASDAQ analysis is telling us that the NASDAQ pushed higher before selling off into the close. This opens the door to the downside if the bulls aren’t careful. If they can hold above the June lows then they can push to the 15600 area.

However, a move below the June lows and all eyes are on14807. Through that should be a strong warning.