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 pushed up to ATHs again and now is withing spitting distance of 5000. If they can hold support at 4880 pressure remains up. The next target higher in v of 3 is 4965-88. Then another pullback.
However, if they can’t hold 4850 then we may be looking at a bigger B wave.
NASDAQ Technical Analysis
Shifting our attention to the NASDAQ, using Elliott Wave Theory the NQ pushed higher but is lagging the ES in that it didn’t breakout to new ATHs. It has an upside target of 18500 to complete wave v of 3 then another pullback in wave 4.
However, if they break below the 17250 level we look for them to breakdown in a local or longer term top.
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.
