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 sold after a strong rip on Friday and continues to follow our primary path to a T. Now the main question will be can the selling hold the 6450-6400 area or will it break down in a bigger failure. Assuming it holds we would be looking for a strong rally back to the ATHs and the 6530-50 areas. If they break down below 6400 though we look to 6250 or less.

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 we saw the NQ also sell after it’s rip session Friday. This means the NQ could see a little more down side in the near future. If they break the August lows that would a be a warning to the bulls. As it stands now as long as they hold the August lows we can count that as wave 4 of a bigger pattern higher. However this doesn’t really align with ES and we may see ATHs on ES but not NQ.

However, any break of the April 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.