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 continued to follow our path holding the 4372 level we spoke about yesterday and pushing higher over the high from Tuesday. This puts us on target with the next move higher to the 4461-4489 area. From there we would look for a pullback and one more high towards teh 4500-4530 areas to give us a wave 1 of 5 of 3.

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 is also following it’s path really well. We are looking at a high in the 15500-600 range and then an abc pullback from there to test support. Assuming support holds we would look for a strong move higher back towards the 16000+ area and new ATHs overall.

However, if they fail by breaking below 15131 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.