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 sold off and now sits at a key area. It’s deep enough for wave b of A in the bullish count and wave 1 of C in the bearish count. This means that the next bounce will be important. If they can give us 3 waves up we would look for follow through down to 5800-5600. If they give us 5 up we would look for c of A to the highs to complete A before the next pullback.

However, if they can’t hold 5600-5800 it’s a major warning to the bulls

NASDAQ Technical Analysis

Shifting our attention to the NASDAQ, using Elliott Wave Theory the NQ also has a deep enough pullback for b of A in the bullish count or 1 of C in the bearish count. That means the next bounce will matter. If it’s 3 waves then we would look for continuation down to the 20400-200 area. If it’s a 5 wave move we would look for a run back to the highs for c of A then another pullback in B of 5.

However, if they break down below 20100, it’s a major warning to the bulls.

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.