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 broke down towards support in what looks like 5 waves in a micro count. Now we would want to see them fully break support below 4545 then 4538 on their way to 4500.
However, if they If they fail to breakdown and push above 4595 then we likely test 4620
NASDAQ Technical Analysis
Shifting our attention to the NASDAQ, using Elliott Wave Theory the NQ pushed through the 15800 support level then bounced off of the 21 day EMA. It completed an ABC down and now is setting up for a potential C wave to the down side as long as they can remain below 16100
However, if they can’t follow through and break above 16100 we look higher with 16300 being the next target.
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.
