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 down slightly and backed off of the ATHs into FED day. Now we have to see if the bulls are ready to squeeze to 6700 or the bears are finally looking to break key support which starts at 6630. If the bears break it down we would look for acceleration into 6600 then 6550. If the bulls break out then 6770 is very likely.

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 push down a little bit into FED day. Now we see if the bears can break down below 24275. If so we can see them accelerate into 24000. From there we would need to see a break of 23000 to fully signify a larger top may be in place. If the bulls break out we look to 25000 pretty quickly.

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.