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 gave us a ride to new ATHs and squeezed as we expected once 5822 was broken. Now we are looking for our next clue as we have CPI data in the morning. If the market rockets higher we are looking at 6073 as our target for the first push. If they fail below 5791 we likely look at a bigger wave 2.

If the market breaks down under 5560 this is a warning to the bulls.

NASDAQ Technical Analysis

Shifting our attention to the NASDAQ, using Elliott Wave Theory the NQ also squeezed higher and is at a key level. Squeeze through 20450 and we could see a run back to the ATHs and a push to 21053 as our first push target. Break down below 20250 and we could see a bigger wave 2 into the 19200-500 area.

A break of 19000 would be a major warning to the bulls.

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.