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 failed to break support and rallied strongly back towards the Wednesday high. The most likely pattern is higher in an ABC toward the 4670-80 area (contract roll). Assuming they can take out Wednesday’s high this would be the likely scenario.
However, if they If they fail to breakout and push down below yesterday’s low then we could see 4450 next.
NASDAQ Technical Analysis
Shifting our attention to the NASDAQ, using Elliott Wave Theory the NQ rallied strongly to give us a potential new B wave high. If they can hold under 16300 (Contract Roll) then we would look down to 15600 in a C wave.
However, if they can’t follow through and break above 16300 we look higher with 16500 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.
