Welcome to the captivating world of SP500 technical analysis, where we unlock the secrets of the market using Elliott Wave Theory. Join us on this journey as we delve into the latest insights and trends shaping today’s trading session.

SP500 Technical Analysis

In our SP500 technical analysis using Elliott Wave Theory we saw wave 2 start to take shape on Monday. We would expect the bears to hold under 4520 and start to push down. This is based on the September contract. The overall target would be the 4260 area.

If the bulls can take back control They will need to push back over 4520 and form a diagonal pattern (ABC) towards the 4625 area.

NASDAQ Technical Analysis: Navigating Market Waters

Shifting our attention to the NASDAQ, we saw the market retrace to the wave 2 target and would expect the bears to keep it under the 15525 area (SEP CONTRACT). If they do we would expect a strong push down to the 14250 area overall.

But here’s where it gets interesting: The bulls can still take back control with a strong push through the 15525 area.

Stay Informed with Elliott Wave Theory

As we continue our journey through SP500 and NASDAQ technical analysis, guided by the powerful Elliott Wave Theory, our goal is to keep you well-informed about the market’s ever-evolving trends and the abundant opportunities it offers. Think of it as having a trusty compass in the vast sea of trading, helping you navigate through the dynamic landscape of today’s financial markets.

So, stay tuned for more updates and insights, and may your trading journey be as thrilling as the markets themselves.