SP500 technical analysis and NASDAQ analysis for today July 18th using Elliott Wave Theory- The bulls are in control of the market and have continued to push giving us the look that we are already in wave 3.

SP500 Technical Analysis

SP500 technical analysis is telling us that the bulls are continuing to push and now appear to already be in wave 3 targeting 3959 for wave 3 and 4040 for the entire C wave. As long as we are above 3836 that is the expectation.

However, if the market falls below 3836 we could see a very sharp drop in a wave 3 of 3 down.

NASDAQ Analysis

NASDAQ analysis is telling us that the current setup is for the C wave higher toward 12550. They also have the triangle in play would move up to the 12170 region and fail back down.