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 we saw the market fail to breakout and move lower before failing to fully break down and rally. From here we would look for the 4390 area for a C wave then a failure and move lower. Assuming that happens we would look for the 4250 area to hold before a bull rally.

However, if they push directly lower it would look like an ending diagonal that would target the 4250 area and we would look for a sharp reversal from there. I would be very cautious short if we move below last weeks low.

NASDAQ Technical Analysis: Navigating Market Waters

Shifting our attention to the NASDAQ, using Elliott Wave Theory the NQ still has a more bullish structure than the ES and is looking to potentially complete a leading diagonal up to the 15100-150 area. Assuming they do we would look for a sharp reversal down to the 14600 area.

If however, the bulls break over the 15150 area we would look to the 15300 area as a potential C wave of 4 up then 5 down in an ending diagonal.

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.