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 fell down out of the blue resistance box and broke support and is now setup to follow through to the downside. We would expect a possible bounce to the 4375 area then a resumption of the downtrend or a direct move to 4330 for a potential a of A

However, if they cannot push down to 4330 then we would look for a push to the 4225 area next.

NASDAQ Technical Analysis

Shifting our attention to the NASDAQ, using Elliott Wave Theory the NQ held the 15450 level and pushed lower breaking support. This is now setup for follow through to the downside. You would look for the NQ to move directly lower toward the 14700 area or below if we are in wave 5 of the LD 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.