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 rocketed higher in what appears to be an expanded B wave. The structure overall isn’t impulsive and that is a major red flag to this being a direct breakout. We would look to hold this 5110-5128 area and push down in C from here targeting the 4860 area.

However, if the bulls can stay above 5052 then they are still in control and can push higher.

NASDAQ Technical Analysis

Shifting our attention to the NASDAQ, using Elliott Wave Theory the NQ also launched higher and is approaching ATHs again. However, the overall structure does appear corrective and I am viewing this as a potential B wave for now. We could see a 4,5 up before they pullback.

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.