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 breakdown and held key support and as long as it remains above 5850 we still have a direct path higher to the 6007 then 6076 area. 5850 is now the key upper support level for the most bullish path.

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 traded sideways to down and held last weeks low which is the key for it’s direct path to the 21000 area. If it breaks last weeks low then we would look to 20000 to hold. Below that is the 19200-500 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.