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 tried to break to the downside but the bears were weak and the bulls held 4500 and we closed at about even. Now the bears have OPEX before moving into Thanksgiving week. If the bears can’t break 4500 tomorrow I suspect we won’t see a turndown until after Thanksgiving as holiday weeks tend to drift higher. If they do break 4500 then 4450-70 would be the next targets.

However, if they can’t break support and break higher, 4551 then 4585 would be the next targets.

NASDAQ Technical Analysis

Shifting our attention to the NASDAQ, using Elliott Wave Theory the NQ briefly broke support before recapturing it and moving back to breakeven on the day. The bears now need to break 15800 and would target 15650 and if below that we could see a more reasonable pullback.

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.