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 hit the 6800 region we have been talking about for weeks and sold off strongly on Friday. Yesterday we saw a big bounce but it has so far failed at the .618 retrace. If they continue to fail at this level we would look for strong selling into the weekly 21 EMA which is in the 6400 area and look for some kind of reaction there. If they continue to bounce and break through the 6744 zone we would look for a direct move back to ATHs

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 move into our target area on Friday before getting taken to the woodshed for a beating. Now we have see a bounce back tot he .618 and if they fail here we would be looking for the 21 EMA on the weekly chart which is in the 23600 region. However, should the bulls show up in force and push through 25105 we look to 25450 next.

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.