SP500 Technical Analysis 4-5-23 (Elliott Wave Theory)
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SP500 technical analysis and NASDAQ analysis for today April 5th using Elliott Wave Theory- The market gave some back as the bears come out of hibernation. Are they here to stay?
SP500 Technical Analysis
SP500 technical analysis is telling us that the SP500 pulled back to the .764ext and held it there most of the day. Now the bears are looking to follow through and break below 4080. If they can do that it's likely we are in the pullback toward the 3950 area.
However, If they can break below 4080 the bulls can push up toward 4260
NASDAQ Analysis
NASDAQ analysis is telling us that the NASDAQ also pulled back to the .382 retrace and held there most of the day. now the bears need to follow through in order to start wave 2 down. A break of 12991 would be a strong indication of this.
However, if they can't break the 12991 area then they can push directly to the 13500 area next.
SP500 technical analysis and NASDAQ analysis using Elliott Wave Theory is the most accurate way to define targets for the market. Check us out on Facebook and our website linked above.
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