SP500 Technical Analysis 8-4-23 (Elliott Wave Theory)

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SP500 technical analysis and NASDAQ analysis for today August 4th using Elliott Wave Theory- The market shot lower. Is the top in?

SP500 Technical Analysis

SP500 Technical analysis is telling us that the market continues to hit it's downside targets. As long as we are below 4560 we are bearish to 4460. We would look for a move to 4491 then a bounce then 4460.

However, if they push back over 4560 we can see a bounce toward 4590 and if they break that 4650

NASDAQ Analysis

NASDAQ analysis is telling us that the NASDAQ moved down to the 1.0 ext and bounced back up to the pivot. This is standard behavior for an impulsive move. As long as we stay below 15562we are bearish to 14763.

However, if they can push back over 15562 we could see a bounce to 15800

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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[anujbahl]

ES just pushed above 4560 and NQ went above 15, 600. Does this mean another push toward 4660?

[willaerley]

NQ tagged that 15562 exactly overnight. Jobs report should decide if it holds. It’s getting interesting for the 🐻.

[zzz-pzrf]

for nq, is it difficult to see it as 1-2/1-2 structure?

[jeffreylindley]

Market is heading back up. Buy the dip works.

[AnthonyAva]

Thanks bud for keepin us financially Educated! Regardless of how bad it gets on the economy, I still make over $22, 000 every single week.