SP500 technical analysis for today January 19th using Elliott Wave Theory- The market flushed the Friday rally dropping 2% and following through in the overnights. We are now approaching the key low of 4492 ES. If we break that low it is likely we head in a more direct manner toward the 4300-50 ES area on the SP500.

SP500 technical analysis using Elliott Wave Theory is also telling us that if they can hold the 4492 low then we are likely in a triangle or B wave bounce taking us back up to the 4700-4800 ES area on the SP500.