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 traded down on Wednesday into support and now the bulls have a test. If they can hold 4735 and push higher back through 4786 we would be looking at a likely move to new ATHs and a target of 4900-4950.

However, if they can’t hold 4735 then we likely target the 4700 region next in all of 1 of C.

NASDAQ Technical Analysis

Shifting our attention to the NASDAQ, using Elliott Wave Theory the NQ traded down as well but bounced back over it’s wave 1 low and now has a very ugly structure to the downside. This is an issue for the bears. If they can hold over 16666 and push back through 17980 then we likely look at 17500 next.

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.