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 bulls failed at the goal line to push through and the bears took the ball and ran breaking the lows. This opens the door to 5600-5650 but as mentioned in the video it may be a trap. The market should have been able to rip lower but chopped and if the bulls can get back over 5850 then 5880 it’s squeeze on.

However, if the bears can continue to the downside we look to 5650-5600 next

NASDAQ Technical Analysis

Shifting our attention to the NASDAQ, using Elliott Wave Theory the NQ bulls also failed and lost the low. This means the bears are in control as long as we are below 20730. If the bulls break through that we would be looking at a squeeze into the 21400 then 21800 areas.

However, assuming the bears are able to keep control we look to 19800 then 19200

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.