SP500 technical analysis for today February 1st using Elliott Wave Theory- The market rallied higher on Monday giving us 2 paths to follow. If they can hold the 4510 ES region and drop then it’s likely we are starting wave 1 of 5 down toward 4150-4100 to complete wave C and bigger wave 4 on the SP500.

SP500 technical analysis using Elliott Wave Theory is also telling us that if they rally through 4509 and then 4550 ES then it becomes likely the bottom is and we are moving toward 4800 in wave 1 of 5 up on the SP500.