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 pulled back then pushed higher as expected giving us a bullish setup if the bulls can follow through. Since we didn’t get a clean 5 up off of the low as expected our primary is for the market to complete a C wave to the 4450-80 ES area.

If however, we push in 5 waves to the 4480 area and hold support we could see a bigger breakout to the 4570 area.

NASDAQ Technical Analysis

Shifting our attention to the NASDAQ, using Elliott Wave Theory the NQ gave us a new low which changed the count a little. We now have an AB setup for a bull move to the 15500-600 area if the bulls can follow through.

However, if they give us a bigger 1,2 instead of an AB we could be looking at a move to the 16000+ 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.