SP500 technical analysis for today January 18th using Elliott Wave Theory- The market sold off early on Friday before battling back with a big rally into the close. Now we are in a bit of a no man’s land. The structure points down but many other charts and indicators point up. In it’s simplest form the market needs to break over 4700 ES to remain bullish on the SP500.

SP500 technical analysis using Elliott Wave Theory is also telling us that if they can’t hold 4621 ES then 4606 ES then it becomes bearish and looks for the C wave down toward 440-4350 ES on the SP500.