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 rallied strongly before pulling back into the close. We are no looking for one more push into the 5700 region and a possible rejection from that area. Assuming we do see rejection we would look for the pullback to tell the story. If it’s a 3 wave pullback we look to new ATHs. If it’s 5 waves we look to a bigger breakdown.

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 rallied hard before shrinking into the close. We are looking for the NQ to potentially push higher but it doesn’t have to as it’s already in it’s target zone for this move up. However it can extend to 20500. Assuming we see rejection from this area as anticipated it will tell the story. 3 waves is bullish. 5 is bearish.

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.