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 screamed higher toward our C wave target in the 5600-5800 range and is now entering the danger zone. If the bears hold that area then provide us with a 5 wave move down we are looking at a potential drop to the Oct 22 lows or Oct 23 lows.

However, this area will be a major test for the bears and if the bulls give us a 3 wave pullback we could see the market move back to new highs sooner than later.

NASDAQ Technical Analysis

Shifting our attention to the NASDAQ, using Elliott Wave Theory the NQ screamed higher towards our C wave target of 19500-20500. This will be the danger zone and a big test for the bears as a hold here and a 5 wave decline would point us down to the 12000-13000 areas.

However, if the bears fail and the next pullback is only 3 waves then the bulls have the advantage as we look to new highs on the horizon.

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.