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 found the trap door and sold off shortly after the open giving us a drop into the support area. Now we have some key levels to watch. If they can hold over 5725 and take out Monday’s high then we look to the 6075 area more directly. If they fail to hold 5725 then 5600 comes into play quickly.

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 sold off and continued to be weak in the face of the SP500. NQ broke below 20300 which was key support and is now sitting just above that level. If they can hold Tuesday’s low and push back over Monday’s high then we could look to the 21000 level more directly. Otherwise we look to the 19200-500 area next.

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.