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 shot higher after the FED meeting and then started to pullback a bit the last few days. This was an expected pullback and puts us squarely in our support area. Assuming the bulls can hold 5255 and press higher we would look to the 5350 area next followed by one more drop then 5400.

However, if the bears break below 5255 then 5166 then our blue box then the bears are looking to take control of this market.

NASDAQ Technical Analysis

Shifting our attention to the NASDAQ, using Elliott Wave Theory the NQ pushed higher after the FED meeting before pulling back into support the last couple of days. From here would look to hold 18383 and push higher and if we do we would look to the 18850-900 area next.

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.