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 grind higher into resistance. We are still looking for the market to turn down from here in either a 3 or 5 wave pullback. A 3 wave pullback would be bullish and a 5 wave would be bearish. Breaking 5400 would indicate this pullback has started.

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 grinded into it’s .50 retrace and resistance. From this area up to 20132 we would look for a pullback of 3 or 5 waves. 3 wave would be bullish and 5 would be bearish looking much lower.

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.