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 bounced up to backtest 6100 and has failed from there. We are now likely looking at an ABC setup down to the 5600-5800 area. From there we would look for the bulls to defend strongly. If they do we should see an ABC back to 6300+

However, if they can’t hold that area it’s a major warning to the bulls

NASDAQ Technical Analysis

Shifting our attention to the NASDAQ, using Elliott Wave Theory the NQ also bounced and failed it’s backtest and is now looking to drop into its 20600-300 support area. If the bulls step in and defend we should see a sharp rally in an ABC form to the 23000+ area.

However, if they break down below that support it’s a strong warning to the bulls.

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.