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 failed to breakout and then fell sharply closing near the lows. This is the path we have been laying out since the drop last week and the market is following it pretty well so far. Now we are looking for Tuesday’s low to break and then a challenge of last Friday’s low. Assuming we see that we would expect them to head to the 21 WEMA which is in the 6440 zone. If they break over Wednesday’s high then we look to ATHs.

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 push over yesterday’s high but fail and retreat sharply back towards and breaking yesterday’s lows. This means the NQ needs to break Tuesday’s low as well to continue on to challenge last Friday’s low. If they do we would expect them to continue to the 23600 area where the 21 WEMA resides. If they push over Thursday’s high it’s likely look out above and 25450+

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.