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 lower to open the day before battling back over yesterday’s high then chopping down from there. From here we may need to see one more high in the 4815-25 area but overall I think we should be looking for them to pullback into the 4640 area assuming they can break yesterday’s low then 4735.

However, if they hold 4735 and push back towards and over 4825 then we likely look for the setup to the 4881 then 4950 area.

NASDAQ Technical Analysis

Shifting our attention to the NASDAQ, using Elliott Wave Theory the NQ also started the day lower before closing in the green and the NQ has a very nice ABC up off of the lows. While we could see them push for one more high we would ultimately be looking for them to move lower and break yesterday’s low to start the move down to 16000 to complete wave 4.

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.