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 pushed higher but was unable to break over last weeks high. This means we are still stuck in the mini range and until we break either last weeks high or low we have many options open. Directly, high and we may look at 5700+ before pulling back, but a drop could take us to 5100 before a move back up. In any case a move off of 5600-5800 will tell the story overall with a 3 wave pullback looking bullish and a 5 wave move looking bearish.

However, any break of the recent lows would likely end up with an end to the bull market.

NASDAQ Technical Analysis

Shifting our attention to the NASDAQ, using Elliott Wave Theory the NQ moved higher but again hasn’t broken out over the highs from last week and until we see that we are stuck in the range with all options open. If we break directly higher we look to 19500-20500 in a 5 of C then the pullback will tell the story. If we drop first then I would expect one more push to 19500-20500. Then the pullback would tell the story.

However, any break of the recent lows would likely end up with the end of the 100 year bull market.

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.