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 launched higher into our target area and now the bears face a big test. Assuming they can hold and push down the pullback would be telling. If its in 3 waves that would be very bullish and lead back to ATHs. If it’s 5 waves then we would start to prepare for a major top being in place.

If the bulls extend directly over 5600 that would be a very bullish outcome.

NASDAQ Technical Analysis

Shifting our attention to the NASDAQ, using Elliott Wave Theory the NQ launched higher into it’s resistance zone. We would expect the bears to hold and push down from here. Assuming they do a 3 wave move would lead to ATHs in a bullish structure and a 5 wave move would likely indicate a major market top is in.

If the bulls push directly through 20132 it’s very bullish.

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.