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 spiked higher on CPI then sold off the rest of the day into key support. This level of 5530 is a key area that must break then 5610 5585 then 5520. At that point we can start to view the market as changing tone and looking for a much bigger pullback. Until then it’s a bull market.

For the bulls they want to hold 5630 the break back over 5678 to signal a new run to 5725.

NASDAQ Technical Analysis

Shifting our attention to the NASDAQ, using Elliott Wave Theory the NQ also sold off and blew through it’s first key level on it’s way to the 20360 area and holding it on the nose. The bears still need to break that zone then 19900 then 19715 in order to change market sentiment. Until then its a bull market.

The bull will want to push back over 20855 on their way back to 21154 then 21396

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.