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 on Thursday setting up for another push into the 5530-50 area. They can take the direct route but could detour as well. Bulls will want to hold 5425 on any pullback or risk momentum to the downside.

Bears need to break 5425 then 5400 and they can apply pressure to the bulls.

NASDAQ Technical Analysis

Shifting our attention to the NASDAQ, using Elliott Wave Theory the NQ made a new ATH and pulled back. Now it looks to be setting up for another push in wave 5 higher. This would target the 20000-20100 areas after contract roll.

Bears need to break 19200 to get strong momentum rolling to the downside.

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.