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 took the direct path higher to the 1.0 ext at 4417. From there the market started to pullback and now we are looking at a major bull test. The bulls are looking to hold 4372 and then push back over yesterday’s high to continue building their bullish structure up towards the 4460 area.

However, if we can’t hold 4372 we would be looking at a potential selloff to the 4140 area.

NASDAQ Technical Analysis

Shifting our attention to the NASDAQ, using Elliott Wave Theory the NQ held where they needed to and pushed up to the targets we mentioned in yesterday’s video. From here they will look to hold the 15020 area and push back up to the 15500-600 area.

However, if they fail we would look at a sharp selloff in C of 3 in a bigger diagonal to the downside to the 14030 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.