SP500 technical analysis and NASDAQ analysis for today Sep 9th using Elliott Wave Theory- The market is knocking on the door of resistance and if it breaks through should shoot higher. So can they break through?

SP500 Technical Analysis

SP500 technical analysis is telling us that the market pushed up over 4k to complete the A wave and pulled back in B toward 3940. From there we pushed higher and closed over 4k in what looks like the start of C. They need to push through tough resistance at 4020 then we should be on our way to 4060

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 pushed higher to complete A and pulled back in B before starting what looks like the C wave higher. From here we need to break over 12461 to give us a strong indication we are headed to 12560

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