SP500 Technical Analysis 10-6-22 (Elliott Wave Theory)

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SP500 technical analysis and NASDAQ analysis for today October 6th using Elliott Wave Theory. The bulls passed a major test and now face an even bigger one. Are they up to the task?

SP500 technical analysis is telling us that the bulls passed a major test by holding the wave 4 support area and racing higher for a wave 5 to complete 5 up off of the lows. This is a strong indication the bulls have returned but they still have work to do. They need to hold wave 2 support in the 3629-3695 range and move back over Wednesday's high and push through the pivot. If they can do that we are well on our way to a bottom being in.

However, if they can't hold support we are looking at 3250-3450 to complete wave 5.

NASDAQ analysis is telling us that the bulls passed the NASDAQ test as well holding support for a wave 4 and moving back over Tuesday's high. This gives us a clean 5 waves up but the bulls still have work to do. They need to hold support for a wave 2 at 11091-11313 then move back over Wednesday's high and then the pivot to tell us we are well on our way to putting in a low.

However, if they can't hold support then we are looking at the 10400-10100 levels lower.

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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Видео SP500 Technical Analysis 10-6-22 (Elliott Wave Theory) канала Invest With Jacob