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 chopped sideways before falling after hours and now it’s about support heading into FED day. If the bulls can hold over 4850 ES then we are still on our way to the 5000+ area in the more immediate future.
However, if they can’t hold 4850 then we may be looking at a bigger B wave.
NASDAQ Technical Analysis
Shifting our attention to the NASDAQ, using Elliott Wave Theory the NQ dropped during and after the trading day and is now at a key support level. They will need to hold 17401 in a C wave of iv to keep the most bullish count towards the 18000 area alive.
However, if they break below the 17401 level we look for them to breakdown in a local or longer term top.
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.
