SP500 technical analysis and NASDAQ analysis for today Sep 7th using Elliott Wave Theory- The market fails to breakout and then pushes lower. Now can they hold support?

SP500 Technical Analysis

SP500 technical analysis is telling us that the market tested the 3960 area and rejected it pushing to a new low then trading sideways to higher. After hours they are pushing lower with a target of 3850-70. If they can hold there we would look for a rally toward 4200

However, If they can’t hold 3850 we may see a selloff to 3750.

NASDAQ Analysis

NASDAQ analysis is telling us that the bulls couldn’t push through resistance and were sent back to the lows. Now they need to hold the 11800-850 support area if they plan on starting a rally toward 13100

However, if they can’t hold 11850 we may see a selloff to 11500