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 stayed in range but moved toward the highs in what could be considered a 1,2,i,ii setup where we would look for a breakout to the 5400 area. Assuming they hold 5322 this pattern is valid. This is the target area we have had for the move up.

If they break below 5322 we would look at potentially a bigger wave 4.

NASDAQ Technical Analysis

Shifting our attention to the NASDAQ, using Elliott Wave Theory the pushed back towards the ATHs in a breakout setup that would be targeting the 19000-100 area for 5 of the expanded B wave we have been tracking. Assuming that is the case we would look for 5 waves down off of a high.

If below 18679 we can see a bigger wave 4 play out unless it’s a 5 wave move down.

Stay Informed with Elliott Wave Theory

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.