SP500 technical analysis and NASDAQ analysis for today August 22nd using Elliott Wave Theory- The bulls fight back. Is it short lived or was this a bear trap?

SP500 Technical Analysis

SP500 Technical analysis is telling us that the market bounced toward our 4425 target and sold a bit at the close. We would look for the bears to hold 4425-31 but ultimately below 4448 and push lower to the 4292 area. If they can do that the next bounce is crucial.

However, if they hold break back over 4448 then the bulls can take back control of the market.

NASDAQ Analysis

NASDAQ analysis is telling us that the NASDAQ should look to hold 15121 and push lower to the 14386 area to give us a full 3 waves down on NQ. From there the next bounce is crucial.

However, if the bulls can push back over 15121 the bulls can take back control.