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 chopped most of the day before pushing higher into the close setting up a move to the 4915 area. From there we will see if we can get a pullback to test the pivot at 4850. If they can’t hold 4915 then we could extend to the 4335 area.

However, if they can’t hold 4830 we could be looking at a local or longer term top.

NASDAQ Technical Analysis

Shifting our attention to the NASDAQ, using Elliott Wave Theory the NQ has already hit it’s 1.236 so it’s possible we get a double top or spike through from the NQ while ES hits it’s 1.236. We would look for them to test the pivot at the 17250 area then push higher again from there.

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.