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 continued to squeeze and has now reached key resistance. The 4335 area is where you would expect a B wave pullback to occur and should we see one to the 4225-4200 area we would look for C up to the 4400 area to complete wave 2.
If however, the bulls push directly to 4400 it starts to favor them trying to make a new ATH in an ending diagonal.
NASDAQ Technical Analysis
Shifting our attention to the NASDAQ, using Elliott Wave Theory the NQ also squeezed higher into key resistance and we are looking at 15000 as a key level. If we see a pullback from there and then another high under 15300 it favors the bears.
However, if they are able to break directly through 15000 then we need to pay attention to the bulls for a more significant move.
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.
