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 moved higher after chopping much of the morning session. They have pushed slightly over key resistance and now will look to try to extend directly to the 19850 zone where we would expect at least a rejection if not a failure. If they are unable to break out we could see a pullback in wave 4 of C before heading higher in 5.

However, any break of the April 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 also moved all around today but is already in it’s target box. Continuation to the 19850 area would be expected if they move strongly through 19600. From there we are looking for a bigger pullback and how it pulls back will be important. 3 waves and it’s bullish looking to all time highs. 5 waves is bearish and looking for a major correction.

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.