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 dropped into key support and the bulls held. Now can they push back over the highs or will we see a bigger drop in either an ABC towards 5167-85 or an overall meltdown? If the bears can hold under 5311 we would expect another leg lower.

However, if they break 5311 then we would look back to ATHs and the 5360-5400 area next.

NASDAQ Technical Analysis

Shifting our attention to the NASDAQ, using Elliott Wave Theory the NQ bounced off of its 18200 support area but closed below it’s 21 day EMA. Now the bulls need to fight back and push back over 18600. If they fail to do so we would look at another push down and potentially breaking our bigger support overall indicating a potential top.

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.