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 pulled back and broke the first level of support. While this is a solid step for the bears much more follow through would be needed before we start to look lower. Right now we have a 5 wave structure off of the highs and the bears would want to follow through toward the 5420 area overall to create a bigger 5 wave structure.

If the bulls can bounce back above 5560 then we have new ATHs incoming.

NASDAQ Technical Analysis

Shifting our attention to the NASDAQ, using Elliott Wave Theory the NQ has pulled back in a 5 wave structure and has been trying to follow through to the downside. We would want to see the 19400 area next to give us a bigger 5 wave structure and more confirmation for the bears.

Any bounces back over 19880 likely lead us back towards ATHs

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.