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 has reached the upper resistance area and now has a chance to break out in a more direct move to ATHs. Will it? The market has reached the 4700 area and as long as they can hold under 4726 we would look for a pullback to begin. There are several indicators hinting at a pullback but until support actually breaks, pressure remains up.

However, if they If they blow through 4726 then we likely look to 4800 SPX before we see a wave 4 pullback.

NASDAQ Technical Analysis

Shifting our attention to the NASDAQ, using Elliott Wave Theory the NQ pushed over 16300 which we said would lead to the 16600-700 area and that is where we sit. If they can hold 16700 we would expect a pullback to begin with a break of yesterday’s low and then the wave 4 low.

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.