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 the market held the 4380 area and pulled back and now we have two potential paths. If the market can hold Friday’s high we can see a continued push lower toward the 4234 level. While this breaks the ES pivot it would hold the SPX pivot and we could still see a reversal play out from there. I would be cautious of any move breaking the ES pivot.

However, if they push over Friday’s high we would be looking for a move towards the 4406 area where we would expect resistance to hold and a move down from there in a lower low to complete the wave C of 4 and look for a rally.

NASDAQ Technical Analysis: Navigating Market Waters

Shifting our attention to the NASDAQ, using Elliott Wave Theory the bulls held the pivot and as long as they stay above the low on Friday they can look to the 15133 area in order to complete a potential 5 waves up. If they do this we would look for a wave 2 pullback to hold then a rally.

If however, the bears break 14801 we could see a lower low on the NQ in the 14400 area that would complete a bigger wave 4 of 3 and then look for a rally higher.

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.