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 traded sideways for most of the days and closed at the lows. We are looking for continuation to the downside but that could be after a small bounce. As long as the bulls keep it under 5148 they can move more directly to the 5040 region next.

However, if the bulls push back through 5148 then we could see a bounce back to the 5200-5250 area in a bigger B wave.

NASDAQ Technical Analysis

Shifting our attention to the NASDAQ, using Elliott Wave Theory the NQ traded slightly lower and is at key support. We would look for continued selling as long as they can stay below the 18056 area. If they do that they can target the 17500-250 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.