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 chopped sideways without really giving any movement to speak of. We are still in an area where you would expect a pullback and the nature of that pullback will be important. If we see a 3 wave pullback that breaks 4300 then we would be looking for higher in potentially wave 2 before the drop. If they hold 4300 it can be the 4,5 to end the move up. Finally, if it’s a 5 wave move down we would count 2 as in and starting the bigger drop in 3.

However, if they continue to push directly higher through 4433 then it starts to favor the bulls.

NASDAQ Technical Analysis

Shifting our attention to the NASDAQ, using Elliott Wave Theory the NQ also chopped around. We are looking for the bears to hold the 15300 area and start a pullback that would break the prior low and head towards the 13600 area to complete wave 5 of a leading diagonal to the downside.

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.