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 lower but was unable to break through and the bulls fought back before getting rejected at 4300 again. Now we have a potential for an ABC down to complete the diagonal we have been talking about for a week or so now to the 4215-25 area. From there we would look for a strong reversal from the bulls.

However if the bulls fail to hold 4170SPX or break out directly higher these are actually bearish outcomes for the market that would have us potentially looking much lower.

NASDAQ Technical Analysis

Shifting our attention to the NASDAQ, using Elliott Wave Theory the NQ is still trying to push lower and would look much better with another low in the 14550-500 region before we see a reversal. This would complete our diagonal move and would setup for the bulls to take back control. If so we would want to see a strong push over 15030.

If however, they decide to push higher we would be looking at a potential ABC/Impulsive move higher that would need to take out the 15030 area. This would likely setup another move higher.

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.