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 followed through to the upside and is trying to create a bullish structure. We would like to see a 5 wave push up to the 4440 area and then a hold on the pullback. If we get that it’s very likely we start our trek back to the 4800 area.

However, if we can’t make a 5 wave structure or the bears push directly below Sunday’s low then last weeks low we have a major setup for lower.

NASDAQ Technical Analysis

Shifting our attention to the NASDAQ, using Elliott Wave Theory the NQ held the .618 and pushed back over the highs and is trying to complete a bullish structure up towards the 15500 levels. If they can do that we would look for them to hold a pullback and then push higher back to ATH’s

However, it is possible that we are completing a very large leading diagonal off of the highs and we could see sharp selling down to the 14000 area.

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.