SP500 technical analysis and NASDAQ analysis for today August 24th using Elliott Wave Theory- The bulls came back with horns sharpened. Are the bears dead?

SP500 Technical Analysis

SP500 Technical analysis is telling us that the market moved higher through the pivot and now we must shift our focus to the potential bullish count. The bulls will look to push up to the 4493-2570 area on the ES and then we should see a C wave downtowards the 4300 area.

However, if they give us a 3 wave move down that breaks the low then could be looking at a leading diagonal.

NASDAQ Analysis

NASDAQ analysis is telling us that the NASDAQ took off and is approaching it’s target box. We should look for a C wave down from here that would approach the 14200 area. From there we should start to look for a strong move higher towards ATHs

However, if the bears give us a 3 wave move down that breaks the lows then we would be looking at a potential leading diagonal.