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 shot down below support but then rebounded. We currently have an expanded B wave setup and as long as they can hold 5959 a bullish setup. If they break down below 5959 then they need to hold 5810 to keep the structure alive otherwise we may be looking at much deeper.

If we break down below 5810 5750 then 5700 would be the next area of support.

NASDAQ Technical Analysis

Shifting our attention to the NASDAQ, using Elliott Wave Theory the NQ also pushed down but held it’s wave 2 low. As long as it can continue to hold that low we would look to the 22800 area next and 23000+ overall.

However, if they break the wave 2 low we look to the 19500s as a likely destination.

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.