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 grinded higher and took out some key resistance on it’s way to giving the bulls control. Now we would expect a pullback towards the 4765 area in a wave 2 before resuming the move up to all time highs targeting the 4950 area. Breaking below 4765 may open the door to 4700

However, if they hold Tuesday’s low and and push back towards over 4828 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 rallied today and reached the 17000 area we have been talking about. From here we would look for them to pullback into the 16650 area and then resume the push higher towards the 18000 zone. If they can’t hold 16650 then we would look for a breakdown to the 16000 area.

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.