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 up on CPI data then closed basically flat. From here we would look for a small pullback but any push over 6036 would likely lead to a squeeze higher towards 6087. Then we would potentially look for a pullback from there.

If they break yesterday’s low we likely look to the support box of 5930-5885

NASDAQ Technical Analysis

Shifting our attention to the NASDAQ, using Elliott Wave Theory the NQ pushed higher but closed basically flat as well. However the semi space was down and we are looking for a pullback from here. If we get that it would look to break down into the 20795 area.

If the market breaks over it’s high we would look for a squeeze to 21750-22300

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.