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 broke through the 12/20 low and is now at the next support level. Assuming they can hold over 4700 we would look for a bounce to the 4780-4800 area then a sharp move down. If however, they can’t hold 4700 then we would be looking to the 4660 area next for the a wave of the circle b down into the 4500-4600 areas.

However, if they hold 4700 and push above 4815 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 is sitting on key support. From here we would expect a bounce and back towards the 16800-900 area then down again towards our 16153 target. If however they break down below 16350 we would look for a more direct move into 16153

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.