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 sold to start the year and is approaching key support. We would look for the ES to break through the 4745 area and if so we would look to 4700-4650 as the next stop with 4550-4500 being the overall target.

However, if they hold 4745 and push above 4825 then we likely look to 4881-4924 next

NASDAQ Technical Analysis

Shifting our attention to the NASDAQ, using Elliott Wave Theory the NQ also sold down but actually broke the 12/20 low. It is now approaching the 16636 area as it’s next support and if it pushes through that we would look at 16150 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.