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 gapped down before the bulls fought back to close green. now the key level is 5900. Back over that and we likely have bottomed for at least the first move down if not for a move to ATHs. If they push back over 5950 then it’s likely we see a new ATH coming.

However, if they fail 5900 we could see a sell down to the blue box in the 5750-5650 area.

NASDAQ Technical Analysis

Shifting our attention to the NASDAQ, using Elliott Wave Theory the NQ also gapped down but fought back to close basically flat. Now if they can get back over 21200 then we can see at least a temporary bottom if not a move to ATHs. Back through 21500 and we likely push to 23000

However, if they fail 21200 then we shoot down to 20400-20200

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.