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 traded sideways to down and is now looking setup to make another low to give us a wave 2 in the 4770 region. Assuming they can hold there, we would look for the market to push higher in wave i of 3 back towards the recent highs. If they break down below 4770 then odds increase on a move towards 4500-600 in the bigger B wave before resuming the uptrend.

However, if they hold the CPI low and break over 4825 we could see a direct move to ATHs.

NASDAQ Technical Analysis

Shifting our attention to the NASDAQ, using Elliott Wave Theory the NQ traded sideways to down and also may need a low in the 16666 area for a deeper wave 2. If they can hold there and push out in 5 waves we would look for them to start pushing towards 17750-18000. If they can’t hold that area we may need to see 16000 before we resume the uptrend.

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.