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 pushed back to critical resistance and it now becomes do or die time for the bears. In most cases, we would expect at least a small pullback off of this zone. If the bears can get that pullback and turn it into a selloff that breaks down below Wednesday’s low then we have a very likely move toward 6440 and the 21 Weekly EMA. If that pullback is smaller and holds 6720-50 and launches back higher we are on our way to the 6850-7000 zone.

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 back towards ATHs. If we see rejection here the bears will need to turn it into a full breakdown and break Wednesday’s 24800 low. IF the bears fail and the bulls hold support in the 25100 zone, we would look for a rip back to ATHs.

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.