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 grinded higher but remained in our resistance area. As long as they hold this area we would expect a pullback that tells the bigger story. If we get 3 waves on the pullback then we will be looking for at least one more high. If however, the pullback is 5 waves it favors the bears.
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 15450 as that is about as high as a reasonable diagonal can go. If they can hold we would expect a 3 wave pullback whether bearish or bullish so we would look to the ES for clarity.
However, if they are able to break directly through 15450 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.
