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 gave us a potential B wave rally as expected and now the bears face a big test. They need to hold the 5028-45 area in order to keep this B wave alive and then push down to test the FED lows. If they can hold that zone and break Tuesday’s low then we would look to the 4860 area next.

However, if the bulls can push over 5045 then we likely move to the 5100 area next.

NASDAQ Technical Analysis

Shifting our attention to the NASDAQ, using Elliott Wave Theory the NQ also rallied in what appears to be a B wave. This is targeting the 17988 area and as long as the bears can hold that area or below and break Wednesday’s low we would look to break down and test the FED lows.

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.