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 rejected 5000 on the ES and pushed down into Monday. Now we have to decide if it’s a real pullback or simply a small dip. As long as they hold Monday’s low pressure remains up but a break of that low opens the door to 4920. If they can take out that area we would look to test the FED low at 4860

However, if they can hold Monday’s low we would look for another push to the 5017-5100 area to complete the move up.

NASDAQ Technical Analysis

Shifting our attention to the NASDAQ, using Elliott Wave Theory the NQ also held support for now and as long as they are over Monday’s low they can push back up to the 18000-18200 area to complete a wave 5 and likely cycle high.

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.