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 finally broke down and got through 5850. At that point 5815-5775 became support and the market held smack in the middle and bounced. Now if they are able to break yesterday’s low we could see them test 5724 and below that is a fallout to 5600-50.

If they can hold yesterday’s and rally impulsively then we would look for a direct breakout to the 6055 area.

NASDAQ Technical Analysis

Shifting our attention to the NASDAQ, using Elliott Wave Theory the NQ also traded down and broke last weeks low and hit the 200000 support we have been talking about. If they can hold there and rally impulsively then we look to the 22000 area next

A break of 2000 leads to the 19200-500 area.

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.