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 snapped back and broke back through resistance and hit the ATHs in the after hours. It’s now looking like wave 5 is underway and we are on our way to the 5000 area on the ES. 5017-5100 is the overall target but again bearish divergence is looming and upside reward is being outweighed by downside risk.

However, we now have 5 up and at anytime we can see a rollover from the market that accelerates to the downside.

NASDAQ Technical Analysis

Shifting our attention to the NASDAQ, using Elliott Wave Theory the NQ rallied back but isn’t out of the woods. To regain it’s bullish posture we would look for a breakout over 17750 on our way to 18000-18125

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.