SP500 technical analysis and NASDAQ analysis for today August 10th using Elliott Wave Theory- The market popped and dropped. Can the bulls fight back?

SP500 Technical Analysis

SP500 Technical analysis is telling us that the market couldn’t push through 4541 and dropped to a new low. Now we would look for a small spike at CPI toward 4455 then a rally toward the 4460-4600 area. From there we would look for a bigger move down.

However, if they break down below 4420 the door is open to the 4260 area.

NASDAQ Analysis

NASDAQ analysis is telling us that the NASDAQ couldn’t push over it’s wave 4 and dropped to a new low in the 15120 area as we said. Now we look for a quick spike down and then higher or directly higher to the 15600-850 region

However, if they break below 14985 the door opens to 14763