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 is testing support and the bulls need to hold to keep the more immediate upside intact. The bears need to break through 4745 decidedly and then we are in a likely B wave towards the 4500-600 area before resuming the uptrend.

However, if they hold 4745 and push above 4820 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 and broke the key 16636 area. This makes it more likely that we see a wave iv down to the 16150 area before we see the NQ start to turn back up. Assuming they can hold that area we would look to 18000 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.