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 hit the 4541.25 target on the nose and started to pullback. As it stands currently the pullback does look corrective. This indicates we would likely be in a B wave of the pullback IF they follow through. First they would need to break 4500 then 4450-70. If they can do that it’s very likely we are in a B wave targeting the 4300-4330 areas.

However, if they can’t break support and break higher, 4585 would be the next target.

NASDAQ Technical Analysis

Shifting our attention to the NASDAQ, using Elliott Wave Theory the NQ hit it’s .618 ext target and started to pullback as well. We would expect an ABC type pullback should they break support. Support starts at 15820 then the next levels are the 15773-687 area. Through that and we likely target the 15000 area.

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.