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 continued to sell and break upper support and now is sitting at our next key area. Bears want to push down and breakthrough the 5555 zone on their way to 5520 next. Breaking that area and 5500 would be the first warning shot for the bulls.

If the bulls can hold above 5555 and push back over 5610 and 5630 we would look for continuation back toward the highs and the 5743 level.

NASDAQ Technical Analysis

Shifting our attention to the NASDAQ, using Elliott Wave Theory the NQ continued to sell and is an important support level at 19715. Breaking below that would be an indication of a move to at least the 19500 area next and if it’s a direct break without a bounce it would look more like acceleration towards 19400.

The bull will want to push back over 20200 and a break over 20360 could lead to a push back towards the 20500+ area.

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.