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 gave us a gap and go back to the 5800 level and if the bulls can hold the 5760 area we would look for them to break out to the 6024 area sooner than later. If they can’t hold 5760 then we likely revisit 5725 and then 5600 in a bigger C Wave.

If the market breaks down under 5560 this is a warning to the bulls.

NASDAQ Technical Analysis

Shifting our attention to the NASDAQ, using Elliott Wave Theory the NQ also went with a gap and go setup and took us higher toward what could be a B wave topping area. If they can break directly over 20450 then I would be looking for 21000 directly but a break back below Monday’s low has us looking at 19200-500

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.