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 responded to a week of selling with a bull charge back to 4800. Now cant the bears step in and hold resistance. From here we would look for the bears to hold the 4815 area and push lower. If they do we would be looking at a potential C wave down that targets the 4640 area for the A wave of B lower.

However, if they hold push back through 4815 then we likely look to new ATHs and 4900 sooner rather than later.

NASDAQ Technical Analysis

Shifting our attention to the NASDAQ, using Elliott Wave Theory the NQ also gave us a bull charge rallying 2% on the day. This rally takes us right to the prime location for the this b wave to end and potentially start a C wave down. If that is the case the bears want to hold below 17000 and break down below last weeks low.

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.