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 it’s sideways grind and too make this simple we will simply say that as long as we are above 5880 we expect a more direct grind to 6300. Whether that’s an extended diagonal or a leading diagonal is to be determined.

If they break support below 5850 then we can start to look at a smaller pullback to potentially the top being in depending on structure and setups.

NASDAQ Technical Analysis

Shifting our attention to the NASDAQ, using Elliott Wave Theory the NQ was grinding sideways as well and we will keep this simple also. As long as we are above 20500 we would expect a grind higher to 22500-23000. Whether that is a leading diagonal or extended ending diagonal is to be determined.

If they fail to the downside and break support in the 20500 area we could see a quick trip to 20000. Below that and the bulls may be in trouble.

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.