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 tried to breakout and failed and we got a gap and crap scenario as the market closed flat on the day. Now the bulls continue to consolidate under the pivot and if it can break through we would look for the market to extend to the 6007-6076 area.

If the market breaks down below 5850 then we may test 5725. Break that and the trap door could come out.

NASDAQ Technical Analysis

Shifting our attention to the NASDAQ, using Elliott Wave Theory the NQ continues to be weak and is basically flat on the day as well giving up a big gap up and now sits at a key level. If they break this weeks low we could see a fallout down to the 19833 area and if this breaks it could waterfall into the 19200 area.

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.