SP500 technical analysis and NASDAQ analysis for today Sep 8th using Elliott Wave Theory- The market bounces and breaks key levels in doing so. Is this the bounce we have been looking for?

SP500 Technical Analysis

SP500 technical analysis is telling us that the market pushed slightly lower in the after hours before taking off higher all day. They boke 3960 and 3975 which is a good indication that the bottom may be in. For full confirmation the bulls still have some work to do and need back over 4020 at which time it’s very likely this bottom is in and we are moving toward 4150-4200

However, If they can’t push over 4020 we may see a selloff to 3850.

NASDAQ Analysis

NASDAQ analysis is telling us that the bulls broke out and took out some key levels at 12241. They now need to push over 12461 to give us a strong indication that the bottom is in and we are headed to the 13100 area.

However, if they can’t hold break over 12461 we may see a selloff to 11850