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 whipped us around but it was very expected. Yesterday we highlighted the 6750 area as a major rejection zone and they spiked it up to 6760 before falling off a cliff then rebounding later. Now the parameters are very simple. Over Wednesday’s high and 6850-6900 is on deck. Break Wednesday’s low and we look to 6440 and the weekly 21EMA

However, any break of the April lows would likely end up with an end to the bull market.

NASDAQ Technical Analysis

Shifting our attention to the NASDAQ, using Elliott Wave Theory we saw the NQ hit the .764 retrace we highlighted yesterday basically exactly before ripping down and then rallying later in the day. Now we have the same params as the ES. Break Wednesday’s high and it’s off to 25450+. Break Wednesday’s low and we are headed to the 23600 area and the 21 Weekly EMA

However, any break of the April lows would likely end up with the end of the 100 year bull market.

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.