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 took a dive and approaches a key support area. We have enough waves down to complete 5 down but based on the NQ I think we can still see a little lower towards the 4240-50 area. Ultimately they need to hold the 4170 SPX area in order to keep the bulls hopes alive.

If the bears break below 4170 it’s a very bad sign for the bulls and could indicate we are in wave 1 of C of the bigger move down we talked about all the way back in October of 2022

NASDAQ Technical Analysis: Navigating Market Waters

Shifting our attention to the NASDAQ, using Elliott Wave Theory the NQ pressed lower and ultimately we now are looking for another low in the 14550 area but they can break all the way down to the 14411 area to the 1.0 ext. If they do that it’s likely not good for the bulls as it would likely break the ES pivot.

If however, they can hold the 14550-500 area we can see a strong bounce or even possibly a reversal that will take us back towards 15500+

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.