SP500 technical analysis and NASDAQ analysis for today August 29th using Elliott Wave Theory- The market sells off strongly on Friday. Does this mean the bulls are done?

SP500 Technical Analysis

SP500 technical analysis is telling us that the market sold off strongly on Friday after breaking support. At this time it is trying to bounce after hours and if that bounce can get started we can decide where we are in the count. We are looking for the bounce to hit at least 4057-4088 to be a wave 4 of C and look for 5 down to 3950.

However, if they push directly over 4114 we have to consider a wave B or the start of wave 5 up.

NASDAQ Analysis

NASDAQ analysis is telling us that after selling off strongly, they are trying to put together a bounce toward the 12588-12705 region in 4 of C then 5 down to the 12250-60 area to conclude wave 4.

However, if they push directly over 12800 we have to consider wave B or the start of 5 up.