SP500 technical analysis and NASDAQ analysis for today Sep 12th using Elliott Wave Theory- The market breaks through key resistance and races higher as expected. Is it ready to come back down now?

SP500 Technical Analysis

SP500 technical analysis is telling us that the market pushed up over 4060 but hasn’t shown us a wave 4 yet so we may still have higher to go. We are looking for a pullback to at least 4075 but preferably 4060 then a push higher toward 4120 to complete the A wave up. If they push directly over 4120 with no pullback then it becomes more likely we head directly toward 4150-4200

However, If they can’t hold over 4043 we likely visit 3975.

NASDAQ Analysis

NASDAQ analysis is telling us that the market pushed over 12550 and still hasn’t shown us a wave 4 so we may still have higher to go. We are looking for a pullback to at least 12631 but preferably 12555 then a push higher towards 12850. If they push directly up to 12850 without a pullback it becomes more likely we head toward 13100 directly.

However, if they can’t hold over 12493 we likely visit 12340-12241