SP500 technical analysis and NASDAQ analysis for today July 21st using Elliott Wave Theory- The bulls continued their push toward 4k on the SP500 but the NASDAQ led the way higher as they are attempting to extend their bullish target.

SP500 Technical Analysis

SP500 technical analysis is telling us that the bulls took the market higher again and then started to pullback toward the close. This is setting up for the next leg higher toward 4007+ on the SP500. If they can take out yesterday’s high 4000 will be the next big hurdle.

However, if the market can’t hold 3905 things can get very complicated.

NASDAQ Analysis

NASDAQ analysis is telling us that the bulls have continued to push higher almost hitting the 12550 original target. Because of this it’s possible the NASDAQ will continue to push past 12550 and potentially as high as 12800+.

However, they need to hold the 12089 area or things can get complicated.